Report For Date 17/10/2016
MCX Crude Palm Oil Weekly November: Expect Higher Range To Be Tested
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Cover short position at 511 or below.
Expect higher range of 520-545 to be tested.
Weaker opening and correction first to 503-493 can be used for buying with a stop loss of 485.
Sell is below 485 with high of the week as the stop loss or 511 whichever is higher.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
511.00
|
N/A
|
DOWN
|
N/A
|
N/A
|
467.4
|
493.7
|
502.8
|
520.0
|
546.3
|
*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
|
511.0
|
2.7
|
90530000
|
11.1
|
5245
|
32.7
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
46.96
|
9.87
|
17.81
|
-15.88
|
7.32
|
-24.36
|
45.76
|
27.42
|
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.