Let's 1st understand what these planets represent on their own?

Moon - Moon represents Mind, Emotions, Mother, Local Government, Peace of Mind, Home Environment, Water, Milk etc.

Ketu - Just like Rahu, Ketu also represents Illusion as both are illusionary planets but the difference is that Ketu is also the one who removes the illusion and brings enlightenment. Besides this, Ketu represents Isolation, Separation, Spirituality, Mystical World, Other Dimension means things related to Alien World, also represents Son, Dog, Intuition, Research Ability, Curious Nature, things which we have already achieved in past life and not much concerned to perform in this life. 

House Ruler - Besides these karaka things, Moon & Ketu will also rule some houses in your chart and will represent things related to that house. Of course we can't cover conjunctions Ascendant and house wise else it will never be over. So, you have to include those things at the time of interpreting this conjunction. Also, we need to keep in mind all Yogas and Raj-Yogas which their conjunction would be making to completely understand the conjunction. Here, we can only cover meaning as per karakas. 

Meaning of Moon-Ketu Conjunction - Moon is Mother. Ketu is Isolation & Separation. So, 1st indication we get from this conjunction is someone who might be separated from Mother. Even if they are not physically separated, they may have great differences of opinion with Mother or Mother may not be good health-wise. It also shows a person or mother who can be very spiritual. This also shows someone who may have psychic abilities. Like, Moon is Mind and Ketu is Mysticism. So, mind here gets access to all the mystical and other worldly information. Specially, in 4th house, 8th house and 12th house, they can have immense intuitive powers. In 1st house, they are born under some very unusual circumstances. They easily grasp all the mystical, spiritual or occult related stuff. But we have to keep something in mind that Moon is Emotions and Ketu is Separation. So, if this conjunction is very close, this person can emotionless towards others and then if further malefic impact is on Moon, then it can even create a criminal. Only way out of such a situation is Meditation which can keep mind balanced and spiritual. They can be very research oriented and they can always have a feeling that they don't belong to this world. They can be too self-critical as they feel that they are worthless in comparison to others. 

Who will win the Conjunction? - Ketu will, in any case.

Dignity & Strength - 

In any sign or any house,it will be a tough conjunction for Moon. In Taurus only, it can be little better but person will be obsessed towards Wealth and Assets. So, it is a different type of madness but only thing in favor is Moon exalted. So,Mind will have some balance. In Scorpio, it is necessary for person to get into occult and mystical stuff to keep mind balanced and productive for self and for everyone. In all other signs, it is all Ketu's impact.