Report for Date:23/05/2016
MCX Crude Oil (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can revise up the stop loss to 3100.
Resistance is at 3333-3369.
In the event of a sustained rise and close above 3369 expect a rally towards 3582 at least and may extend towards 3625-3989 subsequently.
Correction or sideways volatility may resume on fall and close below 3100.
Trend line resistance will be around 3531.
Traders long and holding the same may take profits at 3531-3582 as the opportunity arises.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3281.0
|
2805.0
|
UP
|
2625.0
|
8.04
|
2943
|
3156
|
3245
|
3369
|
3582
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
3281.0
|
5.9
|
83212096
|
-26.9
|
20173
|
1.6
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
65.51
|
5.99
|
89.26
|
1.68
|
97.33
|
56.66
|
75.00
|
8.81
|
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.