MCX Mentha Oil June (Price figures below are in Rs/INR per Kg)
The trend is still down but a major reversal is just around the corner in Mentha oil futures on MCX.
June 2015 futures contract has settled at Rs 938.00 per kg Thursday.
The fantastic rise witnessed from the crucial support area have brightened the chances of a bottoming process in Mentha oil futures.
Ideally, first priority is to cover short positions at market price and on dips to Rs 928-923 levels or below as the opportunity arises.
A bounce back towards Rs 934-925 levels is likely to be seen in coming sessions as long as the support of Rs 887 is intact.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Cover Short
938
966
DOWN
990
6.05
903
925
934
947
968
*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
938
2.01
2249
33.63
0.00
0.00
Positive
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
50.19
9.08
72.30
6.99
-11.40
9.89
50.37
22.18
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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