Report for Date: 27/03/2017
MCX Gold (Price figures below are in Rs/INR per Kg)
Exit long on rise to higher range of 29030-29586.
Further rally can be seen if strong close above 29786 is witnessed.
Weakness overall will be seen below 28392 and 27907.
Downside momentum will resume on fall and close below 27907.
Bandwidth is falling which suggest that upside level will provide resistance unless decisive cross over 29785 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
28793.0
|
28885.8
|
DOWN
|
28366.0
|
10.03
|
27918
|
28474
|
28711
|
29030
|
29586
|
*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
|
28793.0
|
1.0
|
44664000
|
19.7
|
4209
|
-10.3
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
48.46
|
6.10
|
30.30
|
5.14
|
-176.39
|
9.01
|
55.29
|
5.82
|
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.