Report For Week Dated: 18/05/2015
MCX Copper Weekly (Price in INR(Rs)/Kg)
Traders by chance long can revise up the stop loss to 409.
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 of the rise from 332.8 to 421.4 can be seen if immediate rise and close above 424 is not witnessed.
Expect correction of the rise from 332.8 to 421.4 towards 400-388.
Lower range for the week can be 407-395.
Traders long can take profits at 412 -431 range as the opportunity arises.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
412.10
|
391.20
|
UP
|
384
|
17.04
|
395
|
407
|
414
|
419
|
431
|
*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
|
|
412.1
|
-0.52
|
140496000
|
-8.55
|
10656
|
-5.91
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
60.97
|
-2.01
|
89.49
|
6.20
|
1.82
|
5016.07
|
44.24
|
-11.31
|
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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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