NCDEX Dhaanya Index: Correction Will Continue

Report For Date: 25/08/2016
NCDEX Dhaanya Index: Correction Will Continue

Traders short need to revise down the stop loss to 3259.

Expect lower range of 3215-3198 to be tested.

Resistance will be at 3214-3224-3259.

Retracement of the rise from 2655 to 3411 is in progress.

Retracement levels are placed at 3319-3031-2942.

Expect 3319 at least in near term with volatility before resuming the up trend.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3206.55	3293.66	DOWN	3301.59	8.08	3171	3198	3215	3224	3251

*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
32.85	-5.32	6.37	View Full Image
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