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MCX Aluminum August 2017 Weekly: Further Rise Is Above 126.30 Closing

7 Aug 2017 12:25 pm
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Report for Date: 07/08/2017

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

Accumulate at 121.10 or below with a stop loss of 119.

Resistance will be at 122.9-125.60.

Further rally is above 126.30 closing.

Traders can buy above 126.3 with low of the week as the stop loss or 121 whichever is lower.

Accumulate at 120.2 or below with a stop loss of 119.

Deeper correction can resume on fall and close below 119 with bearish candle.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

121.1

120.8

UP

124

30.06

117.5

120.2

121.9

122.9

125.6


*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

121.1

0.0

132280000

-20.7

3875

102.0

Indecisive

Addition long/Short




TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

47.43

-0.25

29.83

-35.09

0.34

-32.22

35.96

-7.14












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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