Report for Date: 04/09/2017
MCX Silver September 2017 Weekly: Resistance At 41279
MCX Silver (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 40173.
Expect higher range of 41365-42637 to be tested.
Lower top resistance is at 41279.
Accumulate at 40531 or below with a s top loss of 40173.
If breakout and close above 41279 is witnessed then expect a rally to 43159.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
40926.00
|
40693
|
UP
|
40926.0
|
1.09
|
38821
|
40093
|
40531
|
41365
|
42637
|
*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
|
40926.0
|
3.2
|
1374180
|
875.4
|
11706
|
135.0
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
54.15
|
11.24
|
86.29
|
2.21
|
-458.83
|
27.51
|
57.43
|
41.66
|
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.