Report for Date: 28/11/2016
MCX Silver (Price figures below are in Rs/INR per Kg)
Traders short and holding the same can revise down the stop loss to 39860.
Further weakness is below 39860.
Sell on fall below 39860 with high of the week as the stop loss or 39860 whichever is higher.
On sustained rise and close above 39860 with positive candle near term pullback can resume on weekly chart.
Retracement level of the last major rise from 33030 to 48932 is placed at 39079.
Lower range for the week can be 39874-38641.
Last higher bottom was at 38270 and the demand zone attached with it is 38270-39291.
Expect support at the demand zone as 61.8% retracement is within the range of demand zone.
The 61.8% retracement as mentioned above is at 39079.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
40498.00
|
42603.28
|
DOWN
|
42194.0
|
11.11
|
38641
|
39874
|
40484
|
41107
|
42340
|
*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
|
|
40498.0
|
0.3
|
1991880
|
-3.7
|
9862
|
-14.7
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
41.97
|
1.07
|
11.89
|
-53.11
|
-66.14
|
-149.33
|
27.80
|
6.15
|
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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