NCDEX Coc August: Further Rise Above 1995 Required
NCDEX COC August :( Price in Rs/Quintal)
The high registered yesterday was 1992 against the peak of 1995.
An intra-day fall was seen to a low of 1935.
The close was at 1948.
Traders long and holding the same can keep the stop loss at 1935.
Use rise from 1948-1958-1995 to exit long and take profits.
Re-enter long on rise and close above 1995.
Correction to 1924 or below can be used for buying with a stop loss of 1882.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Long
1948.0
1916.1
UP
1968.0
24.07
1867.7
1924.7
1958.3
1981.7
2038.7
*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: a Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
PRICE G/L%
VOLUME
% V INC/DEC
OPEN INTEREST
% OI INC/DEC
CANDLE
POSITION
1948.0
-1.0
67270
-21.1
82250
-6.9
Negative
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
58.26
-7.85
60.55
11.29
12.95
11.65
78.18
2.25
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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