Report for Date: 5/2/16
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 320-325 to be tested.
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
|
319.20
|
308.54
|
UP
|
312.3
|
27.01
|
312.4
|
316.6
|
318.3
|
320.8
|
325.0
|
*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
|
319.2
|
1.1
|
39692000
|
2.2
|
16435
|
-2.6
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
63.85
|
5.10
|
83.21
|
9.05
|
1.55
|
113.23
|
82.25
|
2.83
|
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 mar