Report for Date: 16/02/2018
MCX Nickel February 2017: Expect Higher Range To Be Tested
MCX Nickel (Price figures below are in Rs/INR per Kg)
Hold long position if any with a stop loss of 861.
Expect higher range of 915-918 to be tested.
Further rise is above 918.
Traders can buy above 918 with low of the day stop loss or 89 whichever is lower.
Support will be at 888-861.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
900.900
|
840.5
|
UP
|
841.2
|
12.02
|
861.0
|
888.3
|
903.1
|
915.6
|
942.9
|
*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
|
|
900.9
|
0.7
|
16969250
|
-6.7
|
10772
|
2.5
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
64.00
|
1.92
|
84.13
|
16.34
|
16.27
|
15.71
|
69.57
|
2.47
|
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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.
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