Report for Date: 21/08/2017
MCX Silver September 2017 Weekly: Resistance at DRV
MCX Silver (Price figures below are in Rs/INR per Kg)
Cover short position at 39063 or below as the opportunity arises.
Sell on fall below 38300 with high of the week as the stop loss or 39063 whichever is higher at the point of slide below 38300.
Resistance will be at DRV-39975.
Further breakout and close above 40842 will extend the rise.
Broadly, till 40842 is not crossed objective remains to exit long and sell.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
39063.0
|
39975.0
|
DOWN
|
41289.0
|
21.04
|
36981.0
|
38353.0
|
39015.0
|
39725.0
|
41097.0
|
*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
|
39063.0
|
-0.3
|
2484960
|
-23.6
|
12663
|
-4.2
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
48.51
|
-1.07
|
75.42
|
-3.87
|
-738.52
|
12.34
|
45.88
|
-5.78
|
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.