Report For Date: 02/03/2019
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Support will be at 15300-14210.
The last major swing bottom was at 14210 in March 2018.
A rally to 21520 was seen till November 2018.
Subsequently correction resumed down to test back demand zone of 15300-14210.
Resistance will be at 15400-15490.
Cover short position at 15215 or below till 14210 is not violated at weekly closing.
Near term pullback reversal can resume above 15490 for rise towards WRV-16376.
Support take at the regression line parallel line from the last swing bottom of 14210 and the same likely to offer support recovery.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
15215.00
|
16376.00
|
DOWN
|
18870.0
|
30.11
|
14552
|
14987
|
15193
|
15422
|
15857
|
.
*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 INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
15215.0
|
0.3
|
5046.0
|
49.5
|
3357.0
|
31.2
|
Indecisive
|
Addition Long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
28.35
|
2.42
|
9.31
|
26.31
|
-912.71
|
-4.77
|
18.27
|
40.69
|
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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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