MCX Gold (Price figures below are in Rs/INR per Kg)
Cover short position at 31183 or below.
Expect higher range of 31350-31644.
Further weakness is below 30850.
Higher range is to exit long position.
Overall volatility is in between the band of 31517 and 30780.
Prices are around the DRV therefore oscillation is around the DRV.
Sideways volatility to remains for some time till contraction does not happen.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
31183.0
|
31130.7
|
UP
|
31183.0
|
23.1
|
30762
|
31056
|
31222
|
31350
|
31644
|
*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. Sideways- No Directional Movement Indication
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
31183.0
|
0.2
|
10467000
|
55.9
|
4100
|
4.2
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.46
|
5.27
|
56.22
|
26.23
|
15.32
|
4.54
|
50.77
|
13.91
|
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.