Report for Date: 20/03/2017
MCX Copper April 2017 Weekly: Higher Range Is To Exit Long
MCX COPPER (Price figures below are in Rs/INR per Kg)
Exit long on rise from 390-395-406 as the opportunity arises.
Traders long can maintain the stop loss at 378.
Correction can resume below 378.
Correction to DRV 369 can be used for accumulation with a stop loss of 363.
Further breakout and close above 415 is essential and till then rally to 394-406 is to exit long position.
Sideways volatility can be witnessed with upside capped unless decisive breakout above 415 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
390.8
|
369.7
|
UP
|
324.8
|
30.10
|
371.5
|
383.1
|
387.1
|
394.8
|
406.4
|
*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
|
|
390.8
|
2.1
|
138164992
|
-22.5
|
13589
|
-18.8
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
55.75
|
4.70
|
27.62
|
12.07
|
13.60
|
-6.89
|
55.55
|
8.73
|
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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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