NCDEX Dhaniya December Weekly: Further Weakness Is Below 4850

Report For Date: 13/11/2017

NCDEX Dhaniya December Weekly: Further Weakness Is Below 4850

NCDEX Dhaniya (Price are in INR (Rs)/Quintal)


Sideways movement and movement within the band is being witnessed.


Bandwidth is falling which suggest sideways movement and contraction of price overall.

The trading band for 2 weeks is 5240-4850.


Next immediate price direction is outside the range 5240-4850.


Pullback can be seen above 5240 for rise towards DRV-5420.


Trend is down because price is below DRV since 13.04.17 irrespective of intra-week up and down movement.

Traders short and holding the same can maintain the stop loss at 5240.


Weakness will continue below 4850.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	5037.0	5420.4	DOWN	7192.0	13.04	4734	4947	5070	5160	5373

*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
5037.0	-2.6	30760	27.3	36640	10.8	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
43.21	-6.23	76.07	-6.93	-246.00	7.67	53.38	-11.86

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.