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MCX Lead February: Resistance At Higher Range

12 Feb 2019 11:59 am
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 Report for Date: 12/02/2019

 

 

MCX Lead (Price figures below are in Rs/INR per Kg)


Exit long and sell on rise from 145.5-147 with a  stop loss of 149.10.

Expect lower range of 144.70-142.40.


TREND INFORMATION WITH INTRA-DAY LEVELS

 

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

145.50

148.01

DOWN

145.50

11.02

142.4

144.7

146.1

146.9

149.2



*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

145.5

-2.1

60900000

18.6

1681

13.4

Negative

Addition Short

 

TECHINCAL INDICATORS TABLE


RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

51.02

-15.07

8.50

-25.68

2.12

-16.06

44.66

-24.40








Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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.  Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.



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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