Report For Week Dated: 22/06/2015
MCX Lead Weekly (Price figures in INR(Rs)/kg
Exit long and sell on rise from 113-115-117.1 with a stop loss of 125.50.
Expect lower range of 110.9-104.8 to be tested.
Open interest increased with the fall and negative candle which indicates addition of short position.
The last swing bottom was at 105.8 and cluster of support bottoms is around 105-100.
Lower range can be used to cover short position.
Monthly Chart View
Support cluster is at 105-105 and then around 100.
Retracement levels of the rally from 40.50 (December 2008) to 155.40 (August 2013) are placed at 109.45, 97.1 and 85.80.
If the momentum is stronger below 105.8 and closes the week below 105.8 then downside momentum to 97.1 and 85.8 can be visible in months to come.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
113.0
|
122.5
|
DOWN
|
122.1
|
5.06
|
104.8
|
110.9
|
115.0
|
117.1
|
123.2
|
*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
|
113.0
|
-5.2
|
367715008.0
|
0.8
|
4685
|
38.2
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
40.06
|
-13.71
|
4.70
|
-55.18
|
0.06
|
-93.10
|
31.43
|
-1.79
|
Weekly Chart
Weekly Chart
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.