Report For Week Dated: 15/06/2015
MCX Aluminum Weekly: (Price in INR(Rs)/kg)
Trader short and holding the same can keep the stop loss at 112.
Expect lower range of 109.1-106.6 to be tested.
Exit long and sell on rise to 110.5-111.5 with a stop loss of 112.
The demand zone clusters are 104.5-101 and 100-96.
The demand zone will be tested which is the historical proven support range since 2011.
Trend line is shown in the chart which coincides with the cluster.
Buying may emerge at demand zone and violated of the demand zone can lead to sharp slide.
Physical traders in the business may look at price around 100 as the opportunity for accumulation. Breakdown for them will be 95.
Pullback may resume above 112. A close above 112 can trigger of the near term pullback.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
110.05
|
115.92
|
DOWN
|
110.30
|
22.05
|
106.6
|
109.1
|
110.5
|
111.5
|
114.0
|
*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
|
|
110.1
|
-0.8
|
203825008
|
5.7
|
5889
|
19.3
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
43.82
|
10.77
|
6.02
|
-59.01
|
-1.07
|
-15.91
|
35.34
|
54.62
|
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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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