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MCX Copper February: Exit long

11 Feb 2019 11:28 am
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Report for Date: 11/02/2019


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


Exit long on rise from 442.7 or above.

Resistance will be at 444-445.70.

Expect lower range of 441-436 to be tested.

Broadly till 451.4 is not crossed objective remains to exit long.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

442.70

434.22

UP

430.70

29.01

436.5

441.1

444.0

445.7

450.3


*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

442.7

-0.8

31737000

-14.7

10726

-2.6

Negative

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

60.80

-6.38

66.84

-19.23

6.16

-0.57

64.97

-15.72




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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