Report For Week Dated: 4/05/2015
MCX Copper Weekly (Price in INR(Rs)/Kg)
Traders by chance long and holding the same can maintain the stop loss at 383.
Expect higher range of 428 or above to be tested.
Weaker opening and correction to 406-394 can be used for accumulation with a stop loss of 383.
Expect profit booking pressure around the lower top of 428.
The 61.8% retracement of the fall from 512 to 332 is at 443.
The higher range of 428-461 is the profit booking zone for any further sharp spike.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
416
|
385
|
UP
|
384
|
17.04
|
361
|
394
|
406
|
428
|
461
|
*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
|
Strategy
|
|
416.35
|
8.11
|
127618000
|
-30.5272
|
12863
|
28.03
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
63.41
|
25.82
|
76
|
36.56
|
-2.44
|
57.59
|
56.42
|
104.80
|
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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