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MCX Aluminium October: Book Profits And Exit Long Positions

12 Oct 2017 10:16 am
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Report For Date: 12/10/2017


MCX Aluminium October: Book Profits And Exit Long Positions
MCX Aluminium (Price are in INR (Rs)/Quintal)

The trend is still up but a profit taking is seen.

Ideally, book profits and exit long on rise to 138.90 – 139.70 levels or above as the opportunity arises.

Further rise is on breakout and close above 141.50.

TREND INFORMATION WITH INTRA-DAY LEVELS



STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Exit Long 138.45 137.23 UP 136.00 19.09 135.7 137.7 138.9 139.7 141.7



*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. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.


PRICE, VOLUME AND OPEN INTEREST STRATEGY


LAST CLOSE PRICE G/L% VOLUME V -G/L% OPEN INTEREST OI -G/L % CANDLE POSITION
138.45 -1.3 43085000 13.2 3597 -11.2 Negative Unwinding



TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
55.67 -11.42 56.65 -26.92 1.68 -10.72 43.87 -20.43



Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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