Report for Date: 11/06/2018
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders by chance short on contrarian view can maintain the stop loss at 31350.
Cover short position at 31215-30725 as the opportunity arises.
Weakness and correction will continue on fall and close below 30500.
Traders by chance long and holding the same can maintain the stop loss at 30500.
Upside momentum can be seen on rise and close above 31620.
Traders long may use rise to 31519-31620 to take profits.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
31215.00
|
30306.89
|
UP
|
29156.0
|
29.12
|
29931
|
30725
|
31030
|
31519
|
32313
|
*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
|
31215.0
|
2.2
|
21378000.0
|
-37.5
|
5878.0
|
458.2
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.62
|
12.88
|
38.08
|
57.20
|
383.01
|
-0.93
|
72.78
|
17.88
|
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.