MCX Nickel June 2017: Further Weakness Is Below 568 23 Jun 2017 8:42 am   0 Comments  |   Post Comment  |  Font Size A A A  Report for Date: 23/06/2017 MCX Nickel June 2017: Further Weakness Is Below 568 MCX Nickel (Price figures below are in Rs/INR per Kg) Traders short and holding the same can maintain the stop loss of 587. Cover short position at 582.8-572 as the opportunity arises. Expect higher range of 589.4-606.6 to be tested. Sideways movement is likely to be seen along with oscillation around the DRV. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Short 582.80 585.68 DOWN N/A N/A 555.0 572.2 578.7 589.4 606.6 *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 582.8 0.8 7780250 32.3 36853 -5.5 Positive Unwinding TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 49.48 6.91 54.25 -4.25 -6.19 15.19 67.46 10.78 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. View Full Image Read Disclaimer   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest TechAnalysis Report Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... Base Metals Copper (Apr 24) Bullish Trend / Buy on Di... Aluminium (Apr 24) Bullish Trend / Buy-on-Dips / Key S... Base Metals Zinc (Apr 24) Bullish Trend / Buy at CMP ... more Top 5 News Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Mentha Oil (Apr 24) Neutral Trend / Buy at CMP / Price... Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... Base Metals Copper (Apr 24) Bullish Trend / Buy on Di... Top 5 Special Reports US cotton net export sales for April 5-11 at 146,100 RB... US soybean net sales for April 5-11 at 485,800 MT, up 5... Black Matpe (Urad) SQ Burma (CNF$) Positive Trend / Ne... Rice Bran Refined Oil (Ludhiana) Bullish Trend Reversa... Mumbai Black Matpe (Urad) Trending Higher / Next Resis...