Report for Date: 25/08/16
MCX Zinc August: Exit Long On The Rise
MCX Zinc (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 152.
Exit long and take profits at 153.4 to 155 as the opportunity arises.
Further rise can continue above 155.50.
Traders can exit long and re-enter if rise and close above 155.5 is witnessed.
Expect lower range of 152.2-149.5 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
153.40
150.64
UP
151.0
16.08
149.5
152.2
153.8
155.0
157.7
*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
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