MCX Silver May 2017 Weekly: Cover Short Position

Report for Date: 27/03/2017

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

Cover short position at 41530 or below as the opportunity arises.

Expect higher range of 41864-42777 to be tested.

Bandwidth is falling and if rise is seen then will face resistance at the supply zone of 42350-44151.

A breakout and close above 44790 can show a rally.

A pullback to higher range of 41864-42777 can be witnessed and the same can used to exit long.

Traders long and holding the same on their own can maintain the stop loss at 40705.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	41530.0	42157.7	DOWN	40528.0	10.03	40038	40951	41284	41864	42777

*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
41530.0	1.5	1479960	-0.5	12636	-7.5	Positive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
48.94	6.46	23.60	5.65	-135.31	1.87	52.27	9.18

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.