MCX Silver May 2017 Weekly: Expect Lower Range To Be Tested

Report for Date: 10/04/2017

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

Exit long and sell on rise from 41379 to 42423 with a stop loss of 42820.

Expect lower range of 40731-39039 to be tested.

Addition of short position has been witnessed as open interest increased with the fall and negative candle.

Bandwidth has fall with the fall which suggest that lower range can be tested but support could witnessed.

Falling bandwidth could mean that movement can remain between the band of 42820 to 39808.

The momentary bias could be to test lower range with volatility.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	41379.00	42153.5	DOWN	41379.0	7.04	39039	40731	41776	42423	44115

*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
41379.00	-2.2	1812990	16.0	13375	19.4	Negative	Addition Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
48.18	-8.29	49.68	21.18	-92.53	-28.43	42.60	-23.89

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.