MCX Lead July: Trend Down Pullback Reversal Above 115 Closing
MCX LEAD July (Price figures below are in Rs/INR per Kg)
Traders short can maintain the stop loss at 114.80.
Expect lower range of 112.3-110.6 to be tested.
Sell on rise to 113.6-114.2 with a stop loss of 114.80.
Further weakness is below 111.50.
Reversal can happen if close is above 115.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
113.1
114.9
DOWN
N/A
N/A
110.6
112.4
113.6
114.2
116.0
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
Price G/L%
Volume
V -G/L%
Open Interest
OI -G/L %
Candle
Position
113.1
-0.7
64625000.0
-22.1
3873
16.8
Negative
Addition Short
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
43.22
-4.10
41.96
1.18
-1.97
-0.08
28.42
-25.00
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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