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MCX Silver March 2017 Weekly: Further Weakness Is Below 38325

2 Jan 2017 10:48 am
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Report for Date: 2/01/2016


MCX Silver (Price figures below are in Rs/INR per Kg)

Trader short and holding the same can maintain the stop loss at 39900.

Cover short position at 39049 or below as the opportunity arises.

Sell on fall below 38325 with high of the week as the stop loss or 39049 whichever is higher.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

39049.00

41812.03

DOWN

42194.0

11.11

36741

38291

39083

39841

41391


*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

39049.0

1.2

1589400

-18.3

13775

-7.4

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

39.05

5.74

13.48

-23.55

-759.47

-20.33

33.60

8.85








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.


       
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