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MCX Aluminum April 2017 Weekly: Exit Long On Rise

17 Apr 2017 10:24 am
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Report for Date: 17/04/2017


MCX Aluminum April 2017 Weekly: Exit Long On Rise

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

Traders long and holding the same can maintain the stop loss of 120.

Exit long on rise from 123.1 to 125.1 as the opportunity arises.

Resistance will be at 123.7-125.4-128.60.

Correction towards DRV is likely to be tested.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

123.1

119.9

UP

109

23.09

118.2

121.7

123.7

125.1

128.6


*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

123.1

-2.1

111745000

-30.5

1727

-25.8

Negative

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

55.84

-12.24

47.02

-13.74

3.04

-10.08

41.26

-20.42








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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