Report for Date: 4/2/16
MCX Copper February: Expect Higher Range To Be Tested
MCX COPPER (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 305.
Expect higher range of 318-325 to be tested.
Weaker opening and correction to 314-312 is for accumulation.
The lower top resistance is at 321-322.
A breakout and close above 322 with bullish candle at the end of the day can show near term rally.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
315.70
|
307.11
|
UP
|
312.3
|
27.01
|
305
|
312
|
314
|
318
|
325
|
*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
|
|
315.7
|
1.9
|
38843000
|
-5.7
|
16877
|
-4.9
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
60.76
|
10.76
|
76.30
|
0.16
|
0.73
|
17899.30
|
79.99
|
6.67
|
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