Report for Date: 11/12/2017
MCX Aluminum December 2017 Weekly: Correction To Continue
MCX Aluminum (Price figures below are in Rs/INR per Kg)
Exit long on rise from 129.4 to 132.4 as the opportunity arises.
Correction in near term can be witnessed.
The correction will be of the rise from 93.85 to 142.70.
Retracement level is at 123.80.
A rise ad close above 133.80 can market a reversal from correction.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
129.4
|
132.3
|
DOWN
|
129
|
8.12
|
122.7
|
127.6
|
130.6
|
132.4
|
137.3
|
*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
|
129.4
|
-3.3
|
169284992
|
8.0
|
4752
|
40.9
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
45.04
|
-14.27
|
20.90
|
-22.90
|
2.44
|
-22.90
|
31.83
|
-16.86
|
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.