Report for Date: 11/12/2017
MCX Nickel December 2017 Weekly: Expect Support At Lower Range
MCX Nickel (Price figures below are in Rs/INR per Kg)
Correction is being witnessed and expect lower range of 685-638 to be tested.
Support will be at 693-665.
Up move can resume above 741.
Traders can buy above 741 with low of the day stoop loss.
Deeper correction is below 665.
Rise and close above 741 can cause a reversal.
Lower range of 665-692 to attract support.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
706.40
|
707.90
|
DOWN
|
706.4
|
8.12
|
638.1
|
685.9
|
713.3
|
733.7
|
781.5
|
*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
|
706.4
|
-3.4
|
52215752
|
-5.7
|
22584
|
8.6
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
49.20
|
-6.73
|
19.31
|
-10.83
|
24.05
|
-17.05
|
39.39
|
-10.47
|
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.