Report For Date: 11/03/2019
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Cover short position at 15715 or below as the opportunity rises.
Swing bottom appears to be in place as a result of the higher low and higher high with positive candle after testing the Lower Band of Standard Error Channel as shown in the cahrt.
Expect higher range of 15832-16182.
Support will be at 15598-15482.
Pullback towards WRV-16957 could be happening if the recent swing bottom low of 15140 is not violated immediately.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
15715.0
|
16957.6
|
DOWN
|
18640.0
|
30.11
|
15132
|
15482
|
15598
|
15832
|
16182
|
.
*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
|
|
15715.0
|
1.0
|
5859.0
|
-25.0
|
576.0
|
-71.2
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
35.72
|
4.72
|
28.24
|
132.73
|
-805.58
|
-1.14
|
26.05
|
-1.71
|
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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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