Report For Date: 26/05/2016
NCDEX Dhaanya Index: Movement Is A Band 3040 To 2909
Expect lower range of 2955-2922 to be tested.
Upside can resume above 3001 closing.
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 2972-2951 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
|
2969.25
|
2968.85
|
UP
|
2953
|
4.05
|
2922
|
2955
|
2973
|
2987
|
3020
|
*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
|
50.12
|
-5.21
|
21.34
|
11.74
|
13.26
|
-15.76
|
-
|
-
|
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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