MCX Lead Weekly C1 (Price figures in INR(Rs)/kg
Traders short and holding the same can maintain a stop loss at 111.
Exit long and sell on rise to 109.05-110.9-112.8 with a stop loss of 111.
Expect lower range of 106-102.1 to be tested.
The demand zone is at 110.7 to 104.25.
Lower range can attract support therefore cover short position at 106-102.1 as the opportunity arises.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover short
|
107.70
|
117.59
|
DOWN
|
129.6
|
12.09
|
102.1
|
106.0
|
108.2
|
109.9
|
113.8
|
*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
|
Position
|
|
107.70
|
-1.24
|
196280000
|
14.97
|
5177.00
|
27.83
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
26.07
|
-4.99
|
26.28
|
-39.69
|
-4.42
|
-8.22
|
37.71
|
-3.15
|
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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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