Report For Date 25/05/2015
NCDEX COC June :( Price in Rs/Quintal)
Correction is in progress now as a result of the sharp fall with bearish candle.
The 23.6% retracement of the last weekly chart rally from 1313 to 1907 is at 1770.
The low registered last week was 1750 and close at 1768.
Further weakness and correction can continue on fall below 1750.
The 38.2% retracement is placed at 1678.
The DRV is at 1709.
Exit long on rise from 1768 to 1855 as the opportunity arises.
Lower range for the week can be 1727-1622.
Open Interest increased with the fall and negative candle which indicates addition of short position.
Trend is up as a result of closings above the DRV. Therefore, a contrarian short position build up can be seen to the test the DRV.
Correction within the weekly up trend still can be said to be in progress.
In days to come below 1750, traders can expect DRV and the 38.2% retracement as mentioned above.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
1768.0
|
1709.3
|
UP
|
1412.0
|
12.12
|
1622
|
1727
|
1791
|
1832
|
1937
|
*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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
|
|
1768.0
|
-1.7
|
281920.0
|
2.3
|
100810.0
|
0.7
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
66.87
|
-7.78
|
61.55
|
-22.31
|
105.34
|
-3.29
|
39.02
|
-18.17
|
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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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