Report For Date: 25/02/2019
NCDEX Chana (Price are in INR (Rs)/Quintal)
Exit long and sell on rise from 4156-4253 with a stop loss of 4328.
Expect lower range of 4096-3939.
Trend line support is being witnessed.
A fall and close below 4096 can confirm the trend line breakdown.
The last swing bottom was at 4080.
A fall and close below 4080 with bearish candle can extend the slide towards 3940 or below.
Near term reversal can happen if breakout and close above 4328 is witnessed.
As long as 4328 is not crossed objective remains to exit long or sell.
Trade long is above 4328 weekly closing to ensure a near term rally.
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
4156.00
|
4222.23
|
DOWN
|
4156.00
|
22.02
|
3939.0
|
4096.0
|
4193.0
|
4253.0
|
4410.0
|
*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. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
V -G/L%
|
OPEN INTEREST
|
OI -G/L %
|
CANDLE
|
POSITION
|
|
4156.0
|
-2.3
|
87740.0
|
-19.0
|
36980.0
|
-9.6
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
47.22
|
-7.41
|
58.65
|
-10.39
|
31.16
|
-28.79
|
43.12
|
-11.37
|
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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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