Report for Date: 21/11/2016
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders short and holding the same can maintain the stop loss at 29698.
Expect lower range of 28592-27694 to be tested.
Retracement levels of the rise from 24451 to 32445 are placed at 28410 and 27552.
Resistance will be at 28145-29490.
Near term reversal from correction can resume if weekly close is above 29698 and till then exit long and sell on rise to resistance of 28145-29490.
Lower range can be used to cover short and position.
If lower range is attained first then avoid selling as it moves higher towards the sell range.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
28937.0
|
29862.5
|
DOWN
|
29396.0
|
11.11
|
27694
|
28592
|
29145
|
29490
|
30388
|
*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
|
28937.0
|
-1.6
|
45338000
|
-50.6
|
6064
|
-7.8
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
40.59
|
-7.01
|
23.97
|
-34.54
|
-24.80
|
-130.08
|
26.94
|
-32.22
|
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.