Report For Date 24/11/2015
NCDEX Coc December: Correction Is In Progress
NCDEX COC :( Price in Rs/Quintal)
Exit long on rise from 1668 to 1694 as the opportunity arises.
Expect lower level of 1653-1612 to be tested.
The last swing bottom was at 1628.
The earlier breakout point was 1624 and subsequently COC has scaled to 1715.
Correction with volatility is back to test 1628-1624.
Expect support at lower range of 1653-1612.
The 61.8% retracement of the rise from 1509 to 1729 is at 1593. The 38.2% and 50% are at 1642 and 1621 respectively.
Further rally is above 1729 and till then use rise to exit long.
Lower level of 1628-1593 can be used for accumulation with a stop loss of 1590.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
1668.0
|
1659.7
|
UP
|
1656.0
|
16.11
|
1612
|
1653
|
1680
|
1694
|
1735
|
*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
|
|
1668.0
|
-1.3
|
49290
|
-0.3
|
60690
|
-12.8
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.18
|
-9.86
|
59.34
|
-26.56
|
10.62
|
-12.53
|
66.68
|
3.38
|
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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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