Report For Week Dated:13/04/2015
Zinc Weekly C1 (Price figure in INR (Rs)/Per Kg)
The resistance of 133-134 was crossed last week.
The high registered was 137.85 and closed at 137.45.
Strong bullish candle was formed last week.
Addition of long position was witnessed last week as open interest increased with the rise and positive candle which indicates addition of long position.
Weaker opening and correction to 135.8-133.8 can be used for buying with a stop loss of 132.
Expect higher range of 139.5-145.3 to be tested.
The lower top resistance is at 139.5 and further breakout above 139.5 on weekly closing is essential to extend the rally further.
Higher range of 139.5-145.3 zone can attract profit booking on long position.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
137.45
|
133.03
|
UP
|
137.45
|
10.04
|
128.0
|
133.8
|
135.8
|
139.5
|
145.3
|
*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
|
|
137.45
|
3.78
|
228809984
|
44.71
|
4922.00
|
27.18
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
57.41
|
15.08
|
89.03
|
35.82
|
-1.11
|
36.45
|
44.66
|
-5.62
|
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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