Report For Week Dated: 20/04/2015
MCX Lead Weekly (Price figures in INR(Rs)/kg
Traders long can hold the same with a stop loss of 122
Resistance will be at higher range of 127.
Expect higher range of 129.5-135.5 to be tested.
Trend line resistance will be at 130.
Traders can take profits on long position at higher range of 129.5-135.50.
If trend line breakout is not witnessed or is not successful then minor correction to sideways movement an happen.
It could also lead to another consolidation phase. Therefore, trend line breakout and close above it is essential on weekly closing basis.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
127.15
|
118.27
|
UP
|
124.5
|
10.04
|
117.7
|
123.6
|
125.9
|
129.5
|
135.4
|
*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
|
|
127.15
|
2.13
|
309355008
|
10.56
|
3817.00
|
-7.42
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
30.66
|
-1.33
|
16.83
|
27.71
|
-51.17
|
-5.70
|
17.76
|
-8.19
|
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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