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MCX Zinc May 2017: Cover short position

19 May 2017 10:28 am
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Report for Date: 19/05/2017

MCX Zinc May 2017: Cover short position

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

Cover short position at 164.45 or below as the opportunity arises.

Expect higher range of 166.4-171.8 to be tested.

Hammer has been formed with volume which suggest that near term rise and swing bottom may happen unless immediate fall and close below 159 is witnessed.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Short 164.45 170.90 DOWN 185.4 23.03 155.5 160.9 162.9 166.4 171.8


*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
164.5 0.1 160280000 93.4 3422 -4.5 Indecisive Unwinding



TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC-Stochastic MACD 1-ROCMACD RS 1-ROCRS
41.11 0.60 38.52 55.03 -2.44 3.11 50.94 10.25





Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.


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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