Report for Date: 14/08/2017
MCX Silver (Price figures below are in Rs/INR per Kg)
Cover short position at 39194 or below as the opportunity arises.
Expect 40164-42749 to be tested.
Further breakout and close above 40842 can set a near term rally.
Weakness will continue below 36935.
Expect consolidation and attempt for breakout in near term.
Successful breakout can lead to rally.
Expect DRV-39987 to be tested.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
39194.00
|
39987.62
|
DOWN
|
41289.0
|
21.04
|
34994
|
37579
|
38550
|
40164
|
42749
|
*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
|
|
39194.0
|
5.2
|
3250440
|
7.2
|
13217
|
-34.5
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
49.03
|
22.04
|
78.46
|
7.65
|
-842.50
|
13.61
|
48.69
|
31.10
|
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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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