Report for Date: 8/2/16
MCX Lead February: Exit Long On The Rise
MCX Lead (Price figures below are in Rs/INR per Kg)
Exit long on rise from 120 to 124.30 as the opportunity arises.
Expect near term correction to 119.3-117.
DRV of 115.6 can be tested.
Price have cut down the Bollinger Upper Band which suggest that near term volatility and correction to Bollinger Band average can happen which will be rising in days to come.
The retracement levels of the last rise from 107.25 to 124.25 are placed at 117.9-115.8-113.70.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
120.20
|
115.64
|
UP
|
N/A
|
N/A
|
117.0
|
119.3
|
120.6
|
121.6
|
123.9
|
*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
|
120.2
|
-1.8
|
94540000
|
-3.8
|
4721
|
-13.0
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
62.66
|
-10.00
|
78.90
|
-10.62
|
1.92
|
7.11
|
71.59
|
-16.86
|
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 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
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.