MCX Zinc Weekly May: Correction Is Being Witnessed

Report For Week Dated: 25/05/2015

Zinc Weekly (Price figure in INR (Rs)/Per Kg)

Exit long on rise from 138 or above as the opportunity arises.

Expect correction and retracement of the rise from 124.3 to 154.35.

The retracement levels are placed at 143.1-139.60-134.85.

The low registered last week was 137.30.

Expect the next retracement level of 134.85 to be tested.

Resistance will be at 140.8-144.20.

Objective remains to exit long on the rise to resistance levels.

Support cluster is at 135-134.

A recovery and bounce can happen from the support cluster.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	WRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	138.0	140.4	DOWN	138.0	22.05	124.8	134.5	140.8	144.2	153.9

*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. Positional Traders: If trend is up then traders long can hold long position with weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	% V Inc/Dec	Open Interest	% OI Inc/Dec	Candle	Position
138.0	-5.2	404414976.0	-13.8	4074.0	-27.8	Negative	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
51.22	-17.19	50.73	-36.45	2.41	-12.50	27.54	-30.86

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.