Report for Date: 13/02/2017
MCX Copper February 2017 Weekly: Expect Higher Range To Be Tested
MCX COPPER (Price figures below are in Rs/INR per Kg)
Weaker opening and correction first to 402-395 can be used for buying with a stop loss of 387.
Expect higher range of 415-435 to be tested.
The 61.8% retracement of the fall from 512.65 to 291 is at 427.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
408.2
|
366.1
|
UP
|
324.8
|
30.10
|
375
|
395
|
402
|
415
|
435
|
*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
|
408.2
|
5.3
|
211792000
|
18.1
|
17612
|
23.1
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
63.80
|
8.96
|
73.83
|
8.45
|
18.32
|
3.27
|
69.86
|
17.64
|
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.