Report for Date: 2/05/2016
MCX Aluminum (Price figures below are in Rs/INR per Kg)
Addition of long position has been witnessed as open interest increased with the rise and positive candle.
Aluminum must sustain above 112.20 with bullish candle in order to show the positive momentum for near term to short term.
Traders long can keep the stop loss at 108.
Traders can buy if Aluminum trades above the Monday’s open and above 112.20 with low of the week as the stop loss at 108 whichever is lower.
On sustained rise and close above 112.20 with bullish candle expect a rally towards 120.
Correction can resume below 108.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
111.55
|
105.49
|
UP
|
110.30
|
22.04
|
106.1
|
109.5
|
110.9
|
112.9
|
116.3
|
*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
|
111.6
|
1.1
|
70940000
|
208.2
|
3576
|
220.1
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
62.99
|
2.77
|
90.67
|
31.09
|
0.88
|
131.59
|
57.92
|
19.47
|
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.