Report for Date: 17/10/2016
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders short can revise down the stop loss to 29885.
Further correction is below 29300.
Sell is below 29300 with high of the week as the stop loss or 29656 whichever is higher.
Retracement levels are placed at 28410 and 27511.
Long term physical investors can accumulate at retracement levels of 28410 and 27511 as and when the opportunity arises.
Pullback can resume if weekly close is above 29885.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
29656.0
|
29960.4
|
DOWN
|
29578.0
|
7.10
|
29024
|
29449
|
29667
|
29874
|
30299
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
29656.0
|
0.3
|
45101000
|
-38.5
|
8235
|
-3.0
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
44.96
|
1.59
|
15.84
|
-46.65
|
295.94
|
-27.49
|
44.89
|
17.38
|
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.