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MCX Lead April 2017 Weekly: Accumulate Lower Range

17 Apr 2017 10:21 am
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Report for Date: 17/04/2017

MCX Lead April 2017 Weekly: Accumulate Lower Range

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


Traders long and holding the same can maintain the stop loss at 132.

Accumulate at 143.1-139.70 or below with a stop loss of 132.

Resistance will be at 146.6-150.

Reversal from correction will resume on breakout and close above 150.

Bandwidth is falling and prices are moving lower therefore downside could be limited and recovery from lower range can be witnessed.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

144.70

143.07

UP

140.60

6.01

139.7

143.1

145.0

146.6

150.0


*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

144.7

-0.3

312780000

-13.1

2019

-13.6

Indecisive

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

48.56

-0.86

23.87

-46.62

2.73

-19.29

37.27

-0.26







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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