Report For Week Dated: 11/05/2015
MCX Lead Weekly (Price figures in INR(Rs)/kg
Exit long on rise from 130.6 to 138.50 as the opportunity arises.
Expect correction to 127.6-119.3.
Further rally can be seen above 138.5 weekly closing.
Retracement of the rise from 105.8 to 138.4 can be seen.
Retracement level are placed at 126-122-118.
Retracement levels can be tested before moving higher.
Buy is above 138.5 and till then use rise to exit long.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
130.6
|
123.1
|
UP
|
125
|
10.04
|
119.3
|
127.6
|
133.0
|
136.0
|
144.3
|
*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
|
|
130.55
|
-4.04
|
306560000
|
49.03
|
3150
|
-17.52
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
60.99
|
-12.78
|
86
|
-10.55
|
1.74
|
44.02
|
47.75
|
-33.91
|
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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