Report for Date: 14/08/2017
MCX Gold (Price figures below are in Rs/INR per Kg)
The sell stop loss of 28850 was crossed.
Buy got triggered above 28860 as the high registered last week was 29300.
The weekly close was 29203.
Traders managing to implement a long trade had the opportunity to benefit.
Resistance will be at higher range of 29565-29757.
Further breakout and close above 29757 can extend the rise.
Traders long above 28860 may look to take profits at 29565-29757 range as the opportunity arises.
Weaker opening and correction first to 2933-28570 can be used for accumulation with a stop loss of 28283.
DRV is flat and horizontal and oscillation around the same has been witnessed for last few weeks.
Deviation from the average can be key for sustaining the up trend.
Further breakout and close above 29757 is essential.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
29203.00
|
28778.74
|
UP
|
29203.0
|
11.08
|
27575
|
28570
|
28933
|
29565
|
30560
|
*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
|
|
29203.0
|
2.6
|
46386000
|
526.4
|
6850
|
14474.5
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
55.74
|
16.52
|
88.70
|
8.67
|
-71.02
|
47.01
|
49.83
|
15.99
|
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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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