Report For Date 25/07/2016
MCX Crude Palm Oil Weekly August: Near Term Band 475-508
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Traders short and holding the same can maintain the stop loss at 508.
Exit long and sell on rise to 497-504 with a stop loss of 508.
Expect lower range of 487-470 to be tested.
Sell further on fall and close below 475 with high of the day stop loss or 493.
Upside pullback or new upside trend and termination of Wave e can happen if breakout and close above 508 is witnessed with bullish candle.
Near term band of volatility can be 475-508.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
493.50
|
510.39
|
DOWN
|
507.1
|
17.06
|
470.3
|
487.1
|
497.6
|
503.9
|
520.7
|
*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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
|
493.5
|
0.5
|
133640000
|
22.9
|
6040
|
41.7
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
45.88
|
3.73
|
14.32
|
42.83
|
7.71
|
-24.43
|
12.93
|
-7.71
|
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.