NCDEX Jeera March’17: Cover Short Position

Report For Date: 22/02/2017

NCDEX Jeera March’17: Cover Short Position
NCDEX Jeera: (Price are in INR (Rs)/Quintal)

Cover short position at 17130 or below as the opportunity arises.

Expect higher range of 17270-17690 to be tested.

Contrarian buy situation has emerged as open interest increased with the rise and positive candle.

Weakness will resume on fall and close below 16710.

Weaker opening and correction first to 1690-16850 can be used for buying with a stop loss of 16710.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	17130.00	17114.18	UP	17130.00	21.02	16430	16850	16990	17270	17690

*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: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
17130.0	2.0	1527	11.4	3222	2.4	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
50.99	17.82	68.40	19.60	-46.57	20.99	66.15	46.36

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.