MCX Copper April’17: Exit Long On The Rise
MCX Copper (Price figures below are in Rs/INR per Kg
Sideways volatility and oscillation around the DRV wil be witnessed.
Exit long on rise to 400-404 as the opportunity arises.
Further weakness is below 390.
Sell is below 390 with high of the day stop loss or hold long with a stop loss of 390.
Sideways movement seen therefore higher range can attract selling pressure therefore exit long on the rise till decisive upside directional movement is not witnessed.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
398.40
398.70
DOWN
392.2
23.02
391.0
395.5
397.2
400.1
404.6
*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
398.4
0.3
13022000
320.5
10139
17.7
Positive
Addition Long
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
47.53
2.03
23.14
-8.65
0.67
-38.60
46.81
5.89
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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