Report For Date 28/05/2015
NCDEX Coc June: Cover Short Position At Lower Range
NCDEX COC June :( Price in Rs/Quintal)
Traders short can maintain the stop loss at 1795.
The swing bottom cluster of support is at lower range of 1741-1732.
Cover short position at 1785 to 1732 range as the opportunity arises.
Downside momentum can be seen below 1732.
Trend however is still down but if resistance/supply point of 1795 is crossed on closing then pullback can resume.
Up trend would be confirmed if close is above the DRV-1805 with bullish/positive candle.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
1785.0
|
1804.6
|
DOWN
|
1805.0
|
19.05
|
1730
|
1764
|
1776
|
1798
|
1832
|
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
1785.0
|
1.4
|
35920.0
|
-30.5
|
89990
|
-4.9
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
45.67
|
13.25
|
40.34
|
51.29
|
-6.77
|
-18.36
|
39.45
|
43.07
|
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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