Report for Date: 28/11/2016
MCX Zinc (Price figures below are in Rs/INR per Kg)
Traders by chance long and holding the same can maintain the stop loss at 161.
Expect higher range of 205-229 to be tested.
The historical peak was at 208.30.
Expect resistance and profit booking 208.30 or around.
Further rally can continue if the close is above 208.30.
On sustained rise and close above 208.3 a rally to 250 can be witnessed.
Weaker opening and correction first to 189.4-
181.3 can be used for accumulation with a stop loss of 161.
The volatility is larger therefore the risk is large and so also the range of movement.
Higher range can attract profit booking unless decisive breakout and close above 208.3 is witnessed with bullish candle at the end of the week.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
197.05
|
155.70
|
UP
|
124.3
|
15.04
|
157.5
|
181.3
|
189.4
|
205.2
|
229.0
|
*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
|
197.1
|
14.0
|
717924992
|
16.0
|
6130
|
-28.6
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
81.23
|
12.21
|
83.63
|
12.33
|
10.34
|
28.42
|
89.18
|
15.79
|
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.