NCDEX Coc April’17: Expect Lower Range To Be Tested

Report For Date: 21/03/2017

NCDEX Coc April’17: Expect Lower Range To Be Tested
NCDEX COC : ( Price in Rs/Quintal)

Bandwidth increased with the fall and negative candle which indicates that further weakness can emerge with volatility.

Traders short and holding the same can maintain the stop loss at 2243.

Exit long and sell on rise from 2217 to 2233 with a stop loss of 2243.

Expect lower range of 2206-2179.

Lower range can be used to cover short position.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	2217.0	2257.5	DOWN	N/A	N/A	2179	2206	2222	2233	2260

*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
2217.0	-0.6	27310	38.1	112120	-0.6	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
40.78	-6.63	60.34	1.56	-13.87	-7.88	28.07	-20.57

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.