MCX Zinc February: Higher Range Is To Take Profits

Report for Date: 5/2/16

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 114.

Bollinger Band upper band slope is positive and closing are above the upper band suggesting upside momentum in place at the moment.

Doji/High Wave candle has been witnessed which suggest that momentary halt to the rise can be seen unless decisive movement above 117.5 continues.

Traders long can revise the stop loss to 114.

Traders can take profits at 116.3 to 117.5-119.90 as the opportunity arises.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	116.3	108.7	UP	103.8	25.01	112.6	115.0	116.2	117.5	119.9

*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
116.3	0.7	108930000	4.2	3957	0.1	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
68.70	1.68	89.73	View Full Image
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