Report for Date: 28/11/2016
MCX COPPER (Price figures below are in Rs/INR per Kg)
Traders by chance long and holding the same can maintain the stop loss of 363.
Weaker opening and correction to 394.9-381.3 can be used for buying with a stop loss of 363.
Expect higher range of 417-453 to be tested.
Higher range can attract profit booking pressure.
The lower top is at 421.
Further rally can continue on breakout and close above 422.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
403.8
|
341.7
|
UP
|
324.8
|
30.10
|
345.2
|
381.3
|
394.9
|
417.4
|
453.5
|
*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
|
403.8
|
8.8
|
258882016
|
6.3
|
15589
|
-2.3
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
74.45
|
10.16
|
75.98
|
8.98
|
11.85
|
61.94
|
78.22
|
13.50
|
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.