Report For Week Dated: 8/06/2015
MCX Lead Weekly (Price figures in INR(Rs)/kg
Retracement is being witnessed of the rise from 106.8 to 139.
The 50% and 61.8% retracement are placed at 122.9 and 119.
The low registered last week is 121.70.
Resistance will be at 124.3-127.20.
Currently, Lead is into a correction phase and near term movement can becomes sideways.
Traders short can keep the stop loss at 125.30.
Traders can sell on rise to 122.1 to 124.3 with a stop loss of 125.30.
Expect lower range of 120.8-117.2 to be tested.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
122.1
|
123.3
|
DOWN
|
122.1
|
5.06
|
117.2
|
120.8
|
123.0
|
124.3
|
127.9
|
*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
|
|
122.1
|
-2.3
|
296880000.0
|
27.8
|
2195
|
161.3
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
49.71
|
-6.69
|
9.52
|
-36.15
|
1.29
|
-16.22
|
35.28
|
-1.73
|
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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