Report for Date: 03/10/2016
MCX Gold October Weekly: Exit Long On The Rise
MCX Gold (Price figures below are in Rs/INR per Kg)
Traders long can maintain the stop loss at 30700.
Resistance will be at 31134-31315.
Further rise can be seen above 31489 weekly closing.
Correction of the rise from 24969 to 32839 can be witnessed if sustains below 30700.
Traders may look for rise to 31134 or above to exit long till 31489 is not crossed on closing.
Re-enter long if close is above 31489.
Downside momentum towards retracement levels can be witnessed below 30700.
Traders can sell on fall below 30700 with high of the week as the stop loss of 30981 whichever is higher.
Retracement levels of the rise are placed at 29845-28929-27964.
Long term investors may accumulate in physical if retracement levels are attained.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
30981.00
|
30253.62
|
UP
|
26097.0
|
8.01
|
30287
|
30801
|
31134
|
31315
|
31829
|
*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
|
|
30981.0
|
-1.3
|
19937000
|
367.5
|
9043
|
23.1
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
54.01
|
-6.91
|
36.12
|
-19.80
|
533.37
|
-9.87
|
53.56
|
-6.75
|
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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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