MCX Gold October: Further Rise Is Above 29300

Report for Date: 17/08/2017

MCX Gold October: Further Rise Is Above 29300 MCX Gold (Price figures below are in Rs/INR per Kg)

Technical Rating: 39.31- Weak Up Trend Correction and consolidation is likely to be witnessed in near term.

DRV-28685 is likely to be tested with volatility.

Higher range for the day can be 29015-29185.

Further rally is above 29300 and till then higher range can be used to exit long position.



TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	28952.0	28685.3	UP	28844.0	9.08	28675	28845	28907	29015	29185

*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
28952.0	-0.4	9705000	27.2	6635	0.9	Indecisive	Addition long/Short

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
57.02	-7.30	76.49	-12.93	107.04	3.20	39.31	-21.08

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.