Report for Date: 08/10/2018
MCX Gold (Price figures below are in Rs/INR per Kg)
Weaker opening and correction first to 31332-30994 can be used for buying with a stop loss of 30500.
Expect higher range of 31981-32968.
The last peak was at 31808 and the same could be tested.
On further breakout and close above 31808 can lead to a further rally.
Initial profit booking could be seen around 31808-31981.
A breakout and weekly close above 31808 can set a rally to 33300.
Traders long and holding the same can maintain the stop loss of 30500.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
31643.0
|
30481.7
|
UP
|
30335.0
|
31.08
|
30007
|
30994
|
31332
|
31981
|
32968
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
31643.0
|
2.8
|
34870000.0
|
68.8
|
13942.0
|
25.2
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
62.77
|
16.57
|
80.54
|
9.43
|
87.91
|
2473.28
|
58.55
|
15.58
|
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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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