Report for Date: 17/10/2016
MCX Lead October Weekly: Lower Range Is For Accumulation
MCX Lead (Price figures below are in Rs/INR per Kg)
Hold long position if any with a stop loss of 126.
Bearish candle has been formed which suggest that lower range of 130-121 can be tested.
Resistance is likely to be seen till 143 is not crossed.
Accumulate at 130 or below with a stop loss of 126.
Resistance is at 135.3-138.30.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
132.95
|
124.54
|
UP
|
125.00
|
1.07
|
121.8
|
130.0
|
135.3
|
138.3
|
146.5
|
*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
|
133.0
|
-4.0
|
321590016
|
-36.8
|
4103
|
-26.5
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
58.87
|
-11.26
|
73.24
|
-6.06
|
4.37
|
-0.39
|
63.08
|
-13.69
|
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.