Report for Date: 23/05/2016
MCX Copper June: Expect Lower Range To Be Tested
MCX COPPER (Price figures below are in Rs/INR per Kg)
Traders short can maintain the stop loss of 314.
Expect lower range of 306-301 to be tested.
Resistance is at 310-312.
Lower range can be used to cover short position.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
308.4
|
316.1
|
DOWN
|
329.3
|
3.05
|
301
|
306
|
310
|
312
|
317
|
*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
|
|
308.4
|
-0.7
|
42875000
|
-2.4
|
32068
|
8.4
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
33.68
|
-6.47
|
44.06
|
-5.54
|
-4.91
|
-2.69
|
27.51
|
-12.24
|
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