Report for Date: 15/11/2018
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 292.
Expect higher range of 368-428 to be tested.
Higher range can be used to take profits.
The C1 chart for Natural Gas is showing spike on monthly chart.
The peak formed in March 2014 is at 402.70 and the same is likely to be tested.
The historical peak for Natural Gas in the year 2008 was 591.
The peak of year 2014 that is 402.7 will be tested and profit booking could happen.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
347.70
|
273.01
|
UP
|
241.6
|
31.10
|
250.1
|
309.4
|
330.5
|
368.7
|
428.0
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
347.7
|
19.7
|
326615008
|
94.2
|
5618
|
-27.8
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
89.70
|
8.48
|
89.44
|
10.32
|
0.25
|
47.16
|
94.67
|
2.53
|
Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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.