Report For Week Dated: 2/06/2015
MCX Crude Palm Oil (Price are in INR (Rs)/10 kg)
Exit short at 462 or below as the opportunity arises.
Sideways movement and oscillation around the DRV is likely to be seen.
Resistance/Supply can be seen at higher range of 470-493.
Trend line resistance is visible and a further close above 470 with bullish candle at the end of the week can show a rally in short term.
Weaker opening and correction to 456-447 can be used for buying with a stop loss of 441.
Sell if 441 is violated with high of the week as the stop loss or 462 whichever is higher.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
462.0
|
453.2
|
UP
|
462.0
|
29.05
|
425
|
447
|
456
|
470
|
493
|
*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
|
|
462.0
|
4.2
|
97440000.0
|
18.3
|
6385
|
-0.7
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
54.52
|
18.78
|
65.07
|
10.57
|
-3.47
|
31.58
|
38.32
|
137.56
|
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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