Report for Date: 20/07/16
MCX Zinc July: Expect Higher Range To Be Tested
MCX Zinc (Price figures below are in Rs/INR per Kg)
Traders long may keep the stop loss at 145.
Expect higher range of 151.2-153.20 to be tested.
A rally towards 156 is possible.
Weaker opening and correction to 149.9-149.2 can be used for buying with a stop loss of 145.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
150.45
|
142.39
|
UP
|
136.3
|
20.06
|
147.2
|
149.2
|
149.9
|
151.2
|
153.2
|
*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
|
150.5
|
0.9
|
146000000
|
17.5
|
13690
|
9.8
|
Positive
|
Addition Long
|