Report for Date: 4/2/16
MCX Zinc February: Higher Range Is To Take Profits
MCX Zinc (Price figures below are in Rs/INR per Kg)
Traders long can hold the same with a revised up the stop loss of 113.
Expect higher range of 116.2-118.1.
Higher range can be used to take profits.
Bollinger Band upper band slope is positive and closing are above the upper band suggesting upside momentum in place at the moment.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
115.4
107.5
UP
103.8
25.01
112.4
114.3
115.0
116.2
118.1
*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
115.4
1.8
104510000
-24.8
3953
4.7
Positive
Addition Long
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-
Stochastic
MACD
1-ROC
MACD
RS
1-ROC
RS
67.56
4.31
93.41
-0.07
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