Report For Date 20/04/2015
MCX Gold June: Weakness Is Below 26387
MCX Gold June: (Price in INR(Rs)/10 gms):
Traders long can keep the stop loss at 26387.
The band of movement is 27219 to 26225.
Trend line breakout is essential with bullish candle to show near term to short term rally.
The lower top of 27219 breakouts also required post the trend line breakout.
Higher range of 26896-27119 could be tested and the same attract resistance/profit booking pressure.
Therefore, further breakout and close above trend line and above the lower top of 27219 will be essential.
A rally towards 27375 can happen if all breakouts are successful.
Breakdown below 26387 can emerge downside momentum.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
26812.00
|
26546.00
|
UP
|
26781
|
10.04
|
26450
|
26673
|
26756
|
26896
|
27119
|
*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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
|
|
26812.00
|
0.63
|
11166000
|
-15.91
|
7517.00
|
0.75
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
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RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
54.28
|
6.09
|
75.46
|
43.32
|
66.78
|
13.24
|
28.92
|
-1.06
|
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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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