Report for Date: 24/02/2017
MCX Nickel February 2017 : Exit Long On The Rise
MCX Nickel (Price figures below are in Rs/INR per Kg)
Exit long on rise from 700-704.6-710 as the opportunity arises.
Expect lower range of 694-677.
Reversal can be witnessed if close is above 717.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
700.2
708.19
DOWN
700.2
23.02
677.4
694.1
704.6
710.8
727.5
*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
700.2
-2.3
7973250
20.7
12045
-11.3
Negative
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
46.23
-11.31
10.12
-77.03
5.40
-26.27
41.59
-22.11
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.
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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