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MCX Aluminum July 2017: Unwinding Of Position Likely

17 Jul 2017 10:28 am
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Report for Date: 17/07/2017

MCX Aluminum July 2017: Unwinding Of Position Likely MCX Aluminum (Price figures below are in Rs/INR per Kg)



Sideways movement is likely to be witnessed around DRV.

Higher range of 124.4-125.3 is to exit long.

Lowe range o 123.5-122.60 is to exit short.

Unwinding of position is likely to be dominant in near term with volatility.




TREND INFORMATION WITH INTRA-DAY LEVELS


STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Short 123.9 124.5 DOWN 123 10.07 122.6 123.5 124.0 124.4 125.3


*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
123.1 -0.2 29820000 -52.1 2025 -6.5 Negative Unwinding


TECHINCAL INDICATORS TABLE


RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
59.31 5.27 42.95 -7.65 2.43 -4.51 38.31 -3.38







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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