Report for Date: 24/04/2017
MCX Zinc April 2017 Weekly: Correction End Above 173 Closing
MCX Zinc (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 161.
Correction will be witnessed further on fall and close below 161.
Traders short and holding the same can maintain the stop loss at 173.
Traders can buy above 173 with low of the week as the stop loss or 166 whichever is lower.
Correction can be witnessed below 161 and bearish candle is witnessed at weekly closing.
Retracement levels subsequently will be at 150 and 137.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
166.7
|
170.9
|
DOWN
|
168.6
|
13.04
|
153.1
|
162.1
|
166.5
|
171.1
|
180.1
|
*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
|
|
166.7
|
-1.2
|
573129984
|
9.5
|
4024
|
-19.7
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
43.59
|
-2.80
|
14.54
|
-6.90
|
2.53
|
-33.74
|
30.98
|
-2.03
|
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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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