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MCX Copper November: Resistance At Higher Range

14 Sep 2018 10:42 am
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Report for Date: 14/09/2018


MCX COPPER (Price figures below are in Rs/INR per Kg)


Sideways volatility around DRV-429 is likely.

Higher range for resistance is at 432-439.

Lower range can be 426-419.

Traders can buy above 434.5 with low of the day stop loss or 428.8 whichever is lower.

Support will be at 426-419.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

428.8

429.1

DOWN

428.8

13.09

419.9

426.4

430.4

432.8

439.3


*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.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

428.8

-0.2

39348000

-51.5

12999

-1.1

Negative

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

52.72

-2.07

70.33

-8.90

-0.58

37.90

51.08

-4.58









Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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