Report for Date: 24/10/2016
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Exit long on rise from 201 to 225 as the opportunity arises.
Expect correction to 192-191.
Deeper correction will resume below 191 closing.
Traders long and holding the same can maintain the stop loss at 191.
Weaker opening and correction to 195 or below can be used for buying with a stop loss of 191.
Further rally will continue on breakout and close above 226.
Fall and close below 191 will take Gas prices down to test the retracement levels of 179-166-155.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
201.50
|
184.61
|
UP
|
147.0
|
27.05
|
174
|
195
|
208
|
215
|
235
|
*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
|
|
201.5
|
-7.7
|
344068736
|
1.9
|
7875
|
38.4
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
59.16
|
-14.76
|
69.32
|
-11.18
|
12.66
|
-3.62
|
58.22
|
-27.57
|
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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