Report For Week Dated: 18/05/2015
Nickel Weekly (Price figure in INR (Rs)/Per Kg)
Exit long on rise from 878 to 933.
A weekly close above 933 can set a near term rally.
Correction of the rise from 765.7 to 932.4 is being witnessed.
The retracement/correction levels are placed at 869-847-829.
Lower range for the week can be 856.9-798.90.
Expect 856.9 or below to be tested before making attempt to move higher above 933.
Trade long only above 933 closing and till then traders can use rise to exit long.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Exit long
|
878.8
|
902.4
|
DOWN
|
879
|
15.05
|
798.9
|
856.9
|
892.9
|
914.9
|
972.9
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
|
878.8
|
-3.81
|
46753752
|
-4.93
|
10442
|
54.38
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
46.42
|
-8.57
|
81.54
|
0.46
|
-32.40
|
9.59
|
36.29
|
-20.01
|
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.