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MCX Nickel October 2017 Weekly: Next Directional Movement Outside Band

9 Oct 2017 12:26 pm
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Report for Date: 09/10/2017


MCX Nickel October 2017 Weekly: Next Directional Movement outside Band

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

Traders long and holding the same can maintain the stop loss at 665.

Resistance is at 706-708.

Further rise is above 708 with low of the day stop loss or 693 whichever is lower.

Correction will continue below 665.

Next term band of movement is likely to be 665-708. Directional movement is outside the band.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold long 693.20 684.66 UP/Sideways 656.9 28.07 658.4 682.2 694.9 706.0 729.8

*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
693.2 0.2 43961248 3.4 18898 211.8 Indecisive Unwinding

TECHINCAL INDICATORS TABLE




RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
54.75 0.49 18.85 -21.52 17.40 -4.59 53.72 0.10





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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