Report for Date: 22/05/2017
MCX Gold June 2017 Weekly: Cover Short Position
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 27932.
Traders short and holding the same can maintain the stop loss at 29004.
Traders can buy above 29004 with low of the week as the stop loss or 28635 whichever is lower.
Overall movement is likely to remain between the wider band of 29785 and 27907.
Momentary bias is to test the higher range of 29099 or above with volatility.
Downside momentum is below 27932.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
28635.0
|
28831.3
|
DOWN
|
28873.0
|
28.04
|
27055
|
28077
|
28540
|
29099
|
30121
|
*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
|
28635.0
|
2.2
|
56782000
|
32.2
|
4077
|
-40.1
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
48.25
|
15.29
|
17.49
|
28.48
|
-150.92
|
6.30
|
67.18
|
28.57
|
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.