NCDEX Dhaanya Index: Lower Levels Can Attract Support

Report For Date: 23/08/2016
NCDEX Dhaanya Index: Lower Levels Can Attract Support

Correction of the larger rise from 2655 to 3411 is being witnessed.

Further correction will continue below 3209.

Lower level of 3209 is likely to offer support for recovery but objective remains to exit long on rise to 3249-3270 as the opportunity arises.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3230.87	3309.18	DOWN	3301.59	8.08	3148	3209	3249	3270	3331

*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

TECHNICAL INDICATORS TABLE

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RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
36.39	-22.37	48.69	-41.75	-7.75
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