Report for Date: 2/05/2016
MCX Gold (Price figures below are in Rs/INR per Kg)
A breakout and close above 30161 has been witnessed.
Weaker opening and correction to 29885-29394 can be used for buying with a stop loss of 28934.
Expect higher range of 30756-32118 to be tested.
The 61.8% retracement of the fall from 35074 to 24451 is at 31035.
Resistance cluster is at 31000-31500.
Traders long can use rise to 31000 or above to take profits.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
30266.00
|
28315.58
|
UP
|
29131.0
|
8.04
|
28032
|
29394
|
29885
|
30756
|
32118
|
*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
|
|
30266.0
|
4.3
|
85911000
|
10.7
|
9629
|
12.4
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
67.57
|
11.11
|
74.49
|
30.48
|
814.81
|
10.2
|
56.44
|
61.65
|
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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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