Report for Date: 27/06/2016
MCX Copper June Weekly: Near Term Band 324-309
MCX COPPER (Price figures below are in Rs/INR per Kg)
Resistance will be at 324.4-322.30.
Weaker opening and correction first to 315.2-308.2 can be used for buying with a stop loss of 309.
The 61.8% retracement of the fall from 340.25 to 298 is at 324.
Finally, a breakout and close above 324 can extend the current rise.
Band of movement can be 324-309 for ner term.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
317.30
|
323.61
|
DOWN
|
320.2
|
6.05
|
292.0
|
308.2
|
315.2
|
324.4
|
340.6
|
*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
|
317.3
|
4.0
|
287559008
|
3.6
|
16502
|
-49.3
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
49.10
|
14.92
|
44.94
|
90.85
|
-4.18
|
12.72
|
39.44
|
24.52
|
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.