Report for Date: 26/08/2016
MCX Copper August: Lower Range Can Be Used To Cover Short Position
MCX COPPER (Price figures below are in Rs/INR per Kg)
Traders short can hold the same with a stop loss of 310.
Expect lower range of 306.7-304.1 to be tested.
A close above 310 can resume the pullback.
Lower range can be used to cover short position.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Date
L1
L2
CP
L3
L4
Hold Short
307.75
321.32
DOWN
325.7
1.08
304.1
306.7
308.3
309.3
311.9
*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
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