NCDEX Chana December: Uptrend Will Resume Above 4971 Breakout

Report For Date: 15/11/2017

NCDEX Chana December: Uptrend Will Resume Above 4971 Breakout

NCDEX Chana (Price are in INR (Rs)/Quintal)

Hold short position with a stop loss of 4971.

Up trend will resume if sustained rise and close above 4971 is witnessed.

Minor pullback is being witnessed to DRV from lower level of 4640 in last couple of days.

Traders can buy on breakout and close above 4971 and till then can cover short position.

Weakness is below 4790.

Traders can sell on fall below 4790 with high of the day stop loss or 4911 whichever is higher.

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	4911.0	4959.0	DOWN	5210.0	19.10	4672	4821	4880	4970	5119

*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 -G/L%	OPEN INTEREST	OI -G/L %	CANDLE	POSITION
4911.0	1.4	51820	2.7	28260	-3.4	Positive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
47.83	6.69	54.85	28.62	-129.02	12.31	57.30	18.21

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.