Report for Date: 17/08/2017
MCX Silver September: Further Rise Is Above 39520
MCX Silver (Price figures below are in Rs/INR per Kg)
Technical Rating: 45.91- Weak Up Trend
Correction and consolidation is likely to happen in near term before moving higher above 39520.
Trend line breakout has already been witnessed and the same is shown in the chart.
The effect of the trend line breakout has not yet been witnessed.
Another follow up rise and close above 39520 can set a rally.
Accumulate at 38718-38449-38157 with a stop loss of 37680.
Higher range for the day can be 39132-39815.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
38863.00
|
38157.90
|
UP
|
38590.0
|
9.08
|
37766.3
|
38449.3
|
38718.7
|
39132.3
|
39815.3
|
*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
|
38863.0
|
-0.8
|
683580
|
31.9
|
12250
|
-7.9
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.04
|
-7.50
|
80.43
|
-7.58
|
178.09
|
13.50
|
45.91
|
-21.23
|
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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