Report For Week Dated: 25/05/2015
Nickel Weekly (Price figure in INR (Rs)/Per Kg)
Support cluster will be at lower range of 787-765.
Recovery and bounce from lower range can happen.
But trend is strong and relative Nickel is weaker therefore pullback can be weak.
Exit long and sell on rise from 810-835-864 with a stop loss of 889.
Expect lower range of 780-697 to be tested.
Lower range for the week can be 781-697.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
810.5
|
898.8
|
DOWN
|
878.8
|
15.05
|
697.3
|
780.9
|
835.0
|
864.5
|
948.1
|
*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
|
|
810.5
|
-7.8
|
55511752.0
|
18.7
|
17393.0
|
66.6
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
39.30
|
-15.34
|
59.95
|
-26.48
|
-34.46
|
-6.34
|
26.65
|
-26.57
|
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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.
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