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MCX Nickel June: Expect Higher Range To Be Tested

29 Jun 2016 10:06 am
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Report for Date:29/06/2016

MCX Nickel June: Expect Higher Range To Be Tested
MCX Nickel (Price figures below are in Rs/INR per Kg)

Expect higher range of 636-655 to be tested as breakout above 626 has been witnessed.

Weaker opening and correction to 624.7-618 can be used for buying with a stop loss of 597.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

630.10

604.84

UP

598.9

8.06

599.3

618.0

624.7

636.7

655.4


*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

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

630.1

3.9

10526000

26.8

13212

-16.3

Positive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

65.77


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