NCDEX Dhaanya Index: Movement Is A Band 3040 To 2909

Report For Date: 24/05/2016

NCDEX Dhaanya Index: Movement Is A Band 3040 To 2909

The trend is up.

The movement is in the wider band of 3040 to 2909. Correction and consolidation phase is in progress within the band.
Volatility and oscillation around the DRV within the band is being witnessed. Overall a fall and close below 2900 can lead to a fall and deeper correction. Expect lower range of 2971-2942 to be tested before moving higher. Similarly, higher range of 3000-3029 to show resistance.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	2985.76	2968.71	UP	2953	4.05	2942	2971	2985	3000	3029

*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-ROC MACD	RS	1-ROC RS
54.30	-2.55	26.34	-45.38	17.63	-8.40	-	-

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.