Report For Week Dated: 3/08/2015
MCX Copper Weekly August (Price in INR(Rs)/Kg)
Traders short can keep the stop loss at 345.
Addition of short position has been witnessed as open interest increased with the fall and negative candle.
Exit long and sell on rise from 338-342 with a stop loss of 345.
Expect lower range of 332-322 to be tested.
In the event of a fall and weekly close below 332 then expect a slide to 278.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
335.4
|
369.0
|
DOWN
|
386.7
|
29.05
|
322
|
332
|
338
|
342
|
351
|
*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. Positional Traders: If trend is up then traders long can hold long position with weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Strategy
|
335.4
|
-1.4
|
206106000
|
0.4
|
23198
|
9.5
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
31.52
|
-4.21
|
16.59
|
-43.35
|
-10.50
|
-21.24
|
20.92
|
-4.25
|
Copper Weekly chart
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.