Report For Week Dated: 22/06/2015
Nickel Weekly (Price figure in INR (Rs)/Per Kg)
Traders short and holding the same can maintain the stop loss at 847.
Expect lower range of 789-750 to be tested.
The last swing bottom was at 765.70.
Lower range of 789-750 can attract support and recovery from lower range cannot be ruled out.
If better opening are seen and initial rise to 814-828 can be used to exit long position.
If lower range of 789-750 is attained first and later the sell range then avoid with selling.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
803.4
|
893.5
|
DOWN
|
878.8
|
15.05
|
750.6
|
789.6
|
814.8
|
828.6
|
867.6
|
*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
|
|
803.4
|
-4.7
|
39096500.0
|
-12.4
|
16821
|
44.8
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
39.79
|
-9.75
|
24.24
|
9.16
|
-33.28
|
-3.41
|
42.84
|
1.97
|
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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