Report For Date 8/2/2016
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Traders short and holding the same can revise down the stop loss to 6430 to minimize risk.
Further weakness is below 6039.
Cover short position at 6316 or below as the opportunity arises.
Sell is below 6039 with high of the week as the stop loss or 6316 whichever is higher.
Resistance is at 6447-6621.
Resistance can be tested and reversal can happen if close is above 6621 with bullish candle.
The unadjusted C1 chart has the last bottom of 6045.
The recent low was 6039.
Further weakness can be below 6039.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
6316.0
|
8712.5
|
DOWN
|
10427.0
|
18.12
|
5887
|
6167
|
6299
|
6447
|
6727
|
*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
STRATEGY
|
6316.0
|
1.3
|
35080
|
44.8
|
12860
|
16.9
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
28.28
|
3.12
|
14.83
|
63.62
|
-1066.91
|
-7.06
|
24.54
|
14.05
|
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.