Report for Date: 2/05/2016
MCX Nickel (Price figures below are in Rs/INR per Kg)
Cover short position at 631.70 or below.
Weaker opening and correction first to 625-
612 can be used for accumulation with a stop loss of 597.
Breakout and close above 644.20 is essential.
On breakout and close above 644.20 expect a rally in Nickel to 706 at least and may extend to 775 depending on speed and momentum it generates on the rise.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
631.7
|
621.0
|
UP
|
631.7
|
29.0
|
580
|
612
|
625
|
645
|
677
|
*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
|
631.7
|
3.9
|
11473000
|
351.2
|
11959
|
216.1
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
53.47
|
8.76
|
78.80
|
47.94
|
-13.85
|
24.07
|
55.70
|
31.93
|
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.