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MCX Aluminum January 2017: Further Rise Is Above 124 Closing
17 Jan 2017 10:10 am
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Report for Date:
17/01/2017
MCX Aluminum January 2017:
Further Rise Is Above 124 Closing
MCX Aluminum (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 121.
Further rise is above 124.
Expect lower range of 121 or below to be tested.
Resistance is at 122.5-123.30.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Long
121.8
119.3
UP
117
9.01
118.8
121.0
122.5
123.3
125.5
*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
121.8
-1.3
24695000
-4.6
2453
-8.5
Negative
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-
Stochastic
MACD
1-ROC
MACD
RS
1-ROC
RS
65.45
-11.15
86.89
-7.00
1.21
15.68
73.22
-17.29
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.
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