NCDEX Coc April 2019 Weekly: Accumulate

Report For Date: 18/03/2019

NCDEX COC :( Price in Rs/Quintal)

Traders long and holding the same can maintain the stop loss at 1991.

The rise is above the median line of the Standard Error Channel on the rising phase from the low of 1171 to 2159.

Expect the rise to continue to attain the breakout implication target of 2310.

The breakout earlier was witnessed on the falling phase from the lower top of 1885 to 1171.

The breakout was also of the Inverted Head and Should pattern along with the Cup and Handle pattern.

The supply zone of the lower top 2338 is at 2338-2259 which coincide with the breakout implication target mentioned above.

Open Interest increased with the rise and positive candle which indicates addition of long

position.

Accumulate at 2145 and keep room to accumulate on decline to 2109-2058 with a stop loss of 1991.

Higher range for the week can be 2196-2334.

TREND INFORMATION WITH WEEKLY LEVELS

*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

TECHNICAL INDICATORS TABLE

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.