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MCX Lead January 2017 Weekly: Expect Higher Range To Be Tested

13 Feb 2017 10:03 am
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Report for Date: 06/02/2017

MCX Lead January 2017 Weekly: Expect Higher Range To Be Tested

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


Traders long can maintain the stop loss at 151.

Weaker opening and correction first to 159.1-156.8 can be used for buying with a stop loss of 151.

Expect higher range of 163.7-170.6 to be tested.

The peak is at 175.70.

Rise towards the peak can be witnessed and the same can be used to take profits.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

161.3

139.4

UP

140.6

6.01

149.9

156.8

159.1

163.7

170.6


*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

161.3

3.2

317264992

25.2

2369

17.8

Positive

Addition Long


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

64.10

4.52

79.47

-2.73

7.23

5.70

73.45

9.01






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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