Report For Date: 4/05/2016NCDEX Dhaanya Index: Correction Is In ProgressCorrection is in progress.Expect lower range of 2897-2857 can be tested.Retracement levels of the last rally from 2655 to 3040 are placed at 2896-2851-2800.Correction to retracement levels likely to resuming up movement again.Overall breakout and close above 3044 will be required.Higher range of 2924-2937-2978 can be used to take profits in agri-commodities.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
2911.07
2936.18
DOWN
2911
3.05
2857
2897
2924
2937
2978
*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
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
46.55
-9.35
11.82
-19.11
22.95
-21.66
-
-
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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