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MCX Zinc September 2018 Weekly: Lower Range Attract Support

10 Sep 2018 9:42 am
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Report for Date: 10/09/2018



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


Traders short and holding the same can maintain the stop loss at 181.

Resistance is at 175.1-177.60.

Lower range is at 171.4-165.30.

Sideways volatility and oscillation around DRV is being witnessed.

Up move can resume above 181 closing.

Lower range can attract support.

The last swing bottom was at 163.80 and recovery from lower range can be witnessed.

Near term upside movement can resume above 181 closing for rise towards DRV-187.4


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

173.85

187.41

DOWN

202.4

22.06

165.3

171.4

175.1

177.6

183.7

*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

173.9

-2.1

762929984.0

35.7

5374.0

199.9

Indecisive

Addition long/Short

TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

35.52

-5.34

59.47

18.20

-9.06

-1.73

36.46

-11.14








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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