Report for Date: 11/12/2017
MCX Zinc December 2017 Weekly: Expect Lower Range To Be Tested
MCX Zinc (Price figures below are in Rs/INR per Kg)
Resistance is at 202.4-206.20.
Exit long on rise from 199 to 206.20 range as the opportunity arises.
Correction towards DRV of 196.5 can be witnessed.
Correction of the rise from 96.65 to 218 is being witnessed.
Retracement level is at 190.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Exit long
|
199.3
|
196.5
|
UP
|
174.4
|
23.06
|
184.8
|
195.5
|
202.4
|
206.2
|
216.9
|
*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
|
|
199.3
|
-5.1
|
582785024
|
9.8
|
5034
|
-25.5
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.54
|
-16.18
|
35.40
|
-34.45
|
7.05
|
-13.78
|
41.31
|
-22.55
|
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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