Report for Date: 30/11/2015
MCX Nickel December: Lower Range Is To Cover Short Position
MCX NICKEL (Price figures below are in Rs/INR per Kg)
Exit long and sell on rise from 582-608 with a stop loss of 625.50.
Expect lower range of 581-553 to be tested.
Lower range can be used to cover short position.
Reversal can happen on breakout and close above 625.50.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
592
|
607
|
DOWN
|
592.4
|
27.11
|
553.5
|
580.9
|
596.8
|
608.3
|
635.7
|
*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
|
|
592.4
|
-3.6
|
3591250
|
31.2
|
12936
|
44.7
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
43.81
|
17.52
|
77.90
|
58.91
|
-21.49
|
9.62
|
55.34
|
9.16
|
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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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
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