MCX Nickel June Weekly: Band Of Movement 647-520

Report for Date: 27/06/2016

MCX Nickel June Weekly: Band Of Movement 647-520

MCX Nickel (Price figures below are in Rs/INR per Kg)

Cover short position at 608.3 or below as the opportunity arises.

Resistance will be at 623.7-647.

Support is at 597-592.

Correction and downside continues below 592.

Sell is below 592 with high of the week as the stop loss or 608 whichever is higher.

Sell on rise to 623.7 or above with a stop loss of 647.

Breakout and close above 647 can show a rally to 700.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	608.3	612.5	DOWN	604.4	6.05	566.3	595.0	610.5	623.7	652.4

*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
608.3	0.3	41637752	13.3	15906	-18.8	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
52.00	0.70	79.30	50.09	-6.54	24.77	43.37	-5.06

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.