MCX Natural Gas March: Further Weakness Is Below 167
MCX Natural Gas March 2015 (Price In Inr (Rs)/Mmbtu)
Hold short position with a stop loss of 171.
Exit long and sell on rise to 168.2-169.1 with a stop loss of 171.
Expect lower range of 168.2-166.8 to be tested.
Sell on fall below 167 with high of the day stop loss or 171 whichever is higher.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold short
167.70
174.00
DOWN
169.1
26.02
164.5
166.8
168.2
169.1
171
*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
167.70
-1.29
5510000
-91.07
12106.00
7.40
Negative
Addition Short
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
41.46
-3.56
6.50
-22.62
-1.74
-42.69
37.45
-7.75
Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), 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.
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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