Report For Week Dated: 11/05/2015
MCX Aluminum Weekly: (Price in INR(Rs)/kg)
Hold long position with a stop loss of 115
Higher range of 123.30-130.7 will show resistance.
The peak is at 130 and broadly till the peak of 130 is not crossed on closing objective remains to exit long at higher range.
Resistance will be seen at 121.3-123.80 for the week.
Higher range can attract profit booking pressure.
Expect lower range of 117 or below to be tested.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
119.50
|
116.10
|
UP
|
116.20
|
24.04
|
110.1
|
117.0
|
121.3
|
123.8
|
130.7
|
*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
|
|
119.5
|
-1.77
|
211074976
|
43.77
|
3418
|
-8.36
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
57.84
|
-8.06
|
80
|
-12.19
|
-0.21
|
65.81
|
40.40
|
-18.92
|
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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