Report For Week Dated: 15/06/2015
Zinc Weekly Price figure in INR (Rs)/Per Kg)
The last rally was from 124 to 154.35 during the period March 2015 to May 2015.
The rise has been retrace to 61.8% which is at 135.80.
The low registered last week was 134.30 and closed at 136.30.
Further correction and downside momentum will continue below 134.
Sell is below 134 with high of the week as the stop loss or 140.10.
On fall and close below 140, a slide down to test back the bottom of 124 could be seen.
If recovery and close above 140.10 is witnessed then correction can end and pullback of the fall from 154.35 could resume.
Traders short and holding the same can keep the stop loss at 140.10.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
136.3
|
140.4
|
DOWN
|
137.1
|
5.06
|
128.2
|
133.8
|
136.8
|
139.4
|
145.0
|
*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
|
|
136.3
|
-0.6
|
403785024
|
8.3
|
3500
|
-8.3
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
48.84
|
-1.89
|
13.57
|
7.86
|
1.59
|
-19.26
|
34.72
|
1.13
|
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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