Report for Date: 12/02/2018
MCX Silver March 2018 Weekly: Expect Lower Range To Be Tested
MCX Silver (Price figures below are in Rs/INR per Kg)
Exit long on rise to resistance of 308077-38615.
Expect lower range of 37041-35467.
Open interest increased with the fall and negative candle which indicates lower range may be tested with volatility.
Support will be at 37548-36672.
Resistance will be at 38077-38615.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
37578.00
|
39272.14
|
DOWN
|
38651.0
|
2.02
|
35467
|
37041
|
38077
|
38615
|
40189
|
*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
|
37578.0
|
-2.8
|
2359860
|
7.6
|
21102
|
12.4
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
42.42
|
-10.63
|
34.26
|
-44.15
|
-236.24
|
-63.08
|
27.09
|
-16.46
|
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.