MCX Silver March 2017 Weekly: Cover Short Position

Report for Date: 9/01/2016

MCX Silver March 2017 Weekly: Cover Short Position

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

Cover short position at 40342 or below as the opportunity arises.

Expect higher range of 41011-42682 to be tested.

The lower top of 41970 is likely to be tested.

A breakout and close above 42000 can mark a reversal for a new rally.

Weakness will continue if fall and close below 38270 is witnessed.

Sideways volatility between 40678 and 38325 can be witnessed if fails to sustain above 40678.

A rise and close above 40678 with bullish candle can also mark a breakout on the falling wedge which can prove to be bullish for near term to short term.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	40342.00	41715.39	DOWN	42194.00	11.11	37669	39340	40009	41011	42682

*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
40342.0	3.3	2104950	32.4	13177	-4.3	Positive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
46.35	13.54	25.84	98.62	-823.96	-2.00	49.82	75.04

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.