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MCX Zinc January 2019 Weekly: Lower Range Is To Cover Short Position

7 Jan 2019 9:39 am
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Report for Date: 07/01/2019



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


Traders short and holding the same can maintain the stop loss of 176.30.

Resistance will be at 176-176.30.

Lower range for the week can be 167.1-158.

Lower range can be used to cover short position.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

171.55

185.60

DOWN

182.0

23.11

158.0

167.1

171.7

176.1

185.2

*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

171.6

-1.3

495040064.0

34.7

3634.0

63.8

Negative

Addition Short

TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

38.77

-3.15

12.14

-43.27

-4.21

-18.02

30.92

-19.65







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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