MCX Gold (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 29069.
Expect higher range of 29840-30234 to be tested.
Correction will continue if fall and close below 29069 is witnessed with bearish candle.
Weaker opening and correction first to 29594-29446 can be used for buying with a stop loss of 29069.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Long
29690.00
29314.24
UP
29491.0
10.11
29052
29446
29595
29840
30234
*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
29690.0
0.7
35670000
-3.1
4901
-2.4
Positive
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
55.94
4.29
39.95
98.47
181.49
5.20
62.25
6.25
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.
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