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MCX Zinc October 2017: Expect Higher Range To Be Tested
12 Oct 2017 10:08 am
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Report for
Date: 12/10/2017
MCX Zinc October 2017:
Expect Higher Range To Be Tested
MCX Zinc (Price figures below are in Rs/INR per Kg)
Traders long can hold with a stop loss of 208.
Weaker opening to 212 – 211 can be used for buying.
Expect higher range of 216-221 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
212.85
209.04
UP
199.9
18.09
205.75
210.75
213.65
215.75
220.75
*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
212.9
-2.0
136650000
-0.4
8192
-20.3
Negative
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-
Stochastic
MACD
1-ROC
MACD
RS
1-ROC
RS
60.66
-12.53
58.92
-14.14
4.76
-4.44
57.10
-30.53
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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