Report for Date: 24/03/2017
MCX Silver May: Further Rise Is Above 41500
MCX Silver (Price figures below are in Rs/INR per Kg)
Cover short position at 41300 or below as the opportunity arises.
Expect higher range of 41476-41808 to be tested.
Weakness can resume below 40700.
Sell is below 40700 with high of the day stop loss or 41282 whichever is higher.
Buy above 41500 with low of the day stop loss or 41300 whichever is lower.
Traders long and holding the same can maintain the stop loss at 41000.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
41300.00
|
41140.05
|
UP
|
41282.0
|
21.0
|
40812
|
41144
|
41321
|
41476
|
41808
|
*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
|
41300.0
|
0.2
|
347100
|
25.6
|
13409
|
-2.3
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
44.52
|
2.37
|
89.31
|
3.14
|
-438.71
|
9.19
|
39.29
|
-15.69
|
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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