Report For Week Dated: 11/05/2015
MCX Copper Weekly (Price in INR(Rs)/Kg)
Traders by chance long and holding the same can maintain the stop loss at 383.
Higher range of 419.6-429.2 is to exit long and take profits.
Expect 409.9-400 to be tested before moving higher.
Breakout and close above 423.50 would be essential to extend the pullback.
The retracement levels of the fall from 512.60 to 332.8 are placed at 423.35 and 443.70.
On breakout and close above 423.5 expect 443 to be tested.
Correction to 409.9-400 can be used for accumulation with a stop loss of 383.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
414.3
|
388.8
|
UP
|
384
|
17.0
|
400.3
|
409.9
|
415.2
|
419.6
|
429.2
|
*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
|
414.25
|
-0.50
|
153632992
|
20.39
|
11325
|
-11.96
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
62.23
|
-1.86
|
84
|
11.21
|
0.04
|
101.46
|
49.88
|
-11.59
|
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.