Report for Date: 13/01/2016
MCX Silver March 2017 Weekly: Exit Long If Any At Higher Range
MCX Silver (Price figures below are in Rs/INR per Kg)
Expect higher level of 41397-42494 to be tested.
Weakness can resume below 40200.
Resistance will be at 41397-42494.
Breakout and close above 42000 can set a near term rally.
Higher range can attract resistance, selling and profit booking pressure till 42000 is not crossed on closing with bullish candle.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
40887.0
|
41690.1
|
DOWN
|
42194.00
|
11.11
|
39203
|
40300
|
40809
|
41397
|
42494
|
*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
|
|
40887.0
|
1.4
|
2044050
|
-2.9
|
13544
|
2.8
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
46.99
|
5.02
|
48.24
|
86.65
|
-701.81
|
7.02
|
53.99
|
2.67
|
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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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