Report for Date: 05/12/2016
MCX Lead December Weekly: Exit Long For Near Term
MCX Lead (Price figures below are in Rs/INR per Kg)
Hold long position if any with a stop loss of 146.
Dark Cloud cover candlestick pattern has been formed which suggest that further rise is above 176 closing.
Exit long on rise from 153 to 168 range as the opportunity arises.
Resistance will be at 160-168-175.
Expect lower range of 145-122 to be tested in near term to short term with volatility.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
153.5
|
134.8
|
UP
|
125.00
|
1.07
|
122.8
|
145.7
|
160.7
|
168.5
|
191.4
|
*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
|
153.5
|
-7.0
|
442840000
|
16.1
|
1829
|
-25.6
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
65.52
|
-16.82
|
68.22
|
-16.05
|
7.96
|
5.83
|
61.19
|
-26.63
|
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.