Report for Date: 23/10/2017
MCX Silver December 2017 Weekly: Further Rise Is Above 40632 Closing
MCX Silver (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 38710.
Oscillation around DRV-40147 is likely to be tested.
Resistance will be at 40044-40632.
Traders can buy above 40632 with low of the week as the stop loss or 39877 whichever is lower.
Accumulate at 39457 or below with a stop loss of 38710.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
39877.0
|
40147.2
|
DOWN
|
39877.00
|
20.10
|
38449
|
39457
|
40044
|
40465
|
41473
|
*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
|
39877.0
|
-1.3
|
1321980
|
-21.5
|
14130
|
7.8
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
50.81
|
-4.81
|
46.36
|
39.84
|
2.73
|
119.15
|
49.86
|
-11.89
|
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.