Report for Date:22/06/2018
Cover short position at 4496 or below as the opportunity arises.
Expect higher range of 4538-4657 to be tested.
Price reversal breakout is above 4557 closing.
Weakness resumes below 4318 and till then lower range can be used to cover short position.
Consolidation appears to be in place and breakout above 4557 with bullish candle can set a near term rally.
Sideways movement is in progress as is shown with blue color candles.
Volumes registered in last few days have been highest of the contract and the same can be seen in the chart with spike in volume bars.
Downside is below 4318 as entire consolidation process will turn into distribution for a collapse.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
4496.0
|
4525.3
|
DOWN
|
4611.0
|
25.05
|
4300
|
4419
|
4462
|
4538
|
4657
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
4496.0
|
0.2
|
14017500
|
-13.5
|
11944
|
-1.6
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
47.90
|
1.57
|
58.33
|
2.16
|
-34.56
|
9.34
|
49.38
|
5.28
|
Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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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