MCX Silver March 2017 Weekly: Further Rise Is Above 42100 Closing

Report for Date: 30/01/2016

MCX Silver March 2017 Weekly: Further Rise Is Above 42100 Closing

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

Traders by chance long and holding the same can maintain the stop loss at 40400.

Resistance will be at 42084-42100.

Further rise can continue above 42100 closing.

Traders can buy above 42100 with low of the week as the stop loss or 40470 whichever is lower.

In the event of a breakout and close above 42100 expect a rally to 43398-44200-44790.

Correction will resume below 40400.

Sell is below 40400 with high of the week as the stop loss or 41432 whichever is higher.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	41432.00	41675.84	DOWN	42194.0	11.11	39166	40625	41277	42084	43543

*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
41432.0	0.0	1550010	-24.6	13275	1.9	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
49.22	0.06	78.53	13.30	-533.77	12.77	62.82	8.51

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.