Report for Date: 12/06/2017
MCX Silver (Price figures below are in Rs/INR per Kg)
Exit long and sell on rise from 39694-40505 with a stop loss of 40842.
Expect lower range of 39221-37937 to be tested.
Pullback can resume if close is above 40842.
Addition of short position has been witnessed as open interest increased with the fall and negative candle.
Bandwidth increased with the fall which suggest that near term downside momentum could be seen unless breakout and close above 40842 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
39694.00
|
41252.07
|
DOWN
|
41289.0
|
21.04
|
37937
|
39221
|
40031
|
40505
|
41789
|
*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
|
39694.0
|
-1.4
|
2283180
|
-3.0
|
14539
|
1.2
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
44.88
|
-4.94
|
75.01
|
28.15
|
-586.69
|
0.11
|
61.40
|
-12.69
|
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.