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

Report for Date: 17/04/2017

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

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

Cover short position at 42571 or below.

Expect higher range of 43175-44863 to be tested.

Weaker opening and correction first to 42090-41487 can be used for buying with a stop loss of 41000.

Bandwidth increased with the rise and positive candle which indicates that near term rise can be witnessed.

Weakness can be restored below 41000.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	42571.00	42153.78	UP	42571.0	13.04	39799	41487	42090	43175	44863

*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
42571.0	2.9	1354620	-25.3	11996	-10.3	Positive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
53.42	10.86	66.09	33.05	-18.19	80.34	54.64	28.28

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.