Report For Date 8/2/2016
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Traders short and holding the same can keep the stop loss at 13890.
Cover short position at 13585 or below as the opportunity arises.
Weakness will continue on fall and close below 13000.
Sell is below 13000 with high of the week as the stop loss or 13585 and broadly till then cover short position.
Higher range for the week can be 13980-14860.
On the C1 unadjusted chart, the rally was from 9665 to 18930.
The 61.8% retracement is at 13160.
The low in last 2 weeks are 13010 and 13060 respectively.
The weekly closing is higher after testing the 61.8% retracement.
Near term pullback can happen if sustains above the open of the week and above 13890.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
Lt4
|
Hold Short
|
13585.00
|
14559.57
|
DOWN
|
15790.0
|
4.12
|
12220
|
13100
|
13495
|
13980
|
14860
|
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
13585.0
|
1.4
|
32952
|
77.4
|
6465
|
-6.3
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
35.57
|
8.08
|
30.24
|
40.33
|
-545.91
|
-4.55
|
49.20
|
18.60
|
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.