NCDEX Dhaanya Index: Expect Support At Lower Range

Report For Date: 31/08/2016
NCDEX Dhaanya Index: Expect Support At Lower Range

Traders short need to revise down the stop loss to 3194.

Lower range 3139-3110 to be tested and the same is expected to provide support.

Deeper correction will continue is sustains below 3100 with bearish candle.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3153.66	3243.40	DOWN	3301.59	8.08	3110	3139	3154	3168	3197

*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

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RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
28.89	10.55	13.50	48.08	-34.54	-10.38
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