Report for Date: 24/04/2017
MCX Silver May 2017 Weekly: Further Rise Is Above 42820 Closing
MCX Silver (Price figures below are in Rs/INR per Kg)
Sideways movement and oscillation around the DRV has been witnessed.
The near term band of movement is 42820 and 41000.
Traders can buy above 42820 with low of the week as the stop loss or exit long.
Expect lower range of 40676-39026.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
41289.00
|
42123.15
|
DOWN
|
41289.0
|
21.04
|
39026
|
40676
|
41713
|
42326
|
43976
|
*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
|
41289.0
|
-3.0
|
1885170
|
39.2
|
12376
|
3.2
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
47.82
|
-10.47
|
60.43
|
-8.58
|
-55.69
|
-206.11
|
46.17
|
-15.50
|
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.