Report for Date: 26/4/16
MCX Copper April: Immediate Weakness Is Below 363
MCX COPPER (Price figures below are in Rs/INR per Kg)
Cover short position at 366.3 or below as the opportunity arises.
Sell below 363 with high of the day stop loss or 366.3 whichever is higher.
The band of movement can be 372 to 356.
The lower top is at 372 and the same could be tested in near term if immediate fall below 363 is not witnessed.
Overall in near term sideways volatility is likely to get witnessed between 372 and 356.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
366.3
|
374.2
|
DOWN
|
380.65
|
6.04
|
360.7
|
364.3
|
365.8
|
367.8
|
371.4
|
*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
|
366.3
|
0.7
|
30273000
|
14.6
|
14887
|
-8.7
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
41.58
|
8.89
|
58.73
|
23.75
|
-5.03
|
5.23
|
55.84
|
16.53
|
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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