MCX Nickel Weekly: Expect Retracement Levels To Be Tested

Report For Week Dated: 11/05/2015

Nickel Weekly (Price figure in INR (Rs)/Per Kg)

Expect retracement levels of the fall from 1280 to 765 to be tested.

The retracement levels are placed at 961-1021-1085.

Weakness will be seen below 873.

Traders long can keep the stop loss at 873.

Expect higher range of 939-998 to be tested.

Weaker opening and correction first to 906-
880 can be used for buying with a stop loss of 873.

Sell on fall below 873 with high of the week as the stop loss or 914 whichever is higher.

If the positive momentum sustains above 933 then expect retracement levels of 961-
1021-1085 to be tested.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	WRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	913.6	902.6	UP	913.6	8.05	822.0	880.7	906.6	939.4	998.1

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	% V Inc/Dec	Open Interest	% OI Inc/Dec	Candle	Position
913.6	3.75	49178248	45.13	6764	1.09	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
50.78	9.56	81	43.93	-35.84	16.69	45.37	10.11

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.