MCX Zinc January 2017 : Further Rise Is Above 190

Report for Date: 18/01/2017

MCX Zinc January 2017 : Further Rise Is Above 190 MCX Zinc (Price figures below are in Rs/INR per Kg)



Traders long can hold the same with a stop loss of 181.

Exit long on rise to 186.5-191.4 as the opportunity arises.

Further rise can continue if close is above 190.

Traders can buy above 190 with low of the day stop loss or 184 whichever is lower.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	184.000	181.614	UP	178.05	6.01	176.6	181.5	184.0	186.5	191.4

*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
184.0	-1.5	98385000	11.7	5315	-8.4	Indecisive	Unwinding

TECHINCAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
54.45	-6.92	66.97	-20.82	1.88	-1.08	49.99	-23.17

Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.


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.