Report for Date: 02/05/2016
MCX Zinc (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 124.
Expect higher range of 131.10-136.50 to be tested.
The 61.8% retracement is at 132.80.
The resistance from lower top is at 135.
Exit long position to take profits if rise to 132-136.50 is witnessed.
Correction can resume on fall and close below 124.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
129
|
119
|
UP
|
114.3
|
5.02
|
120.3
|
125.7
|
127.7
|
131.1
|
136.5
|
*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
|
|
129.1
|
1.1
|
110260000
|
237.0
|
5248
|
222.2
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
62.52
|
1.94
|
88.15
|
34.16
|
3.07
|
17.71
|
57.82
|
14.36
|
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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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