Report For Date 16/01/2017
MCX Crude Palm Oil Weekly February: Expect Higher Range To Be Tested
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Traders long can maintain the stop loss at 572.
Expect higher range of 591-613 to be tested.
Weaker opening and correction to 579-569 can be used for buying with a stop loss of 572.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
581.40
|
559.24
|
UP
|
547.9
|
25.11
|
547
|
569
|
579
|
591
|
613
|
*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
|
|
588.9
|
1.3
|
76680000
|
-13.1
|
4892
|
-6.9
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
65.95
|
3.07
|
88.40
|
4.00
|
13.15
|
12.39
|
73.25
|
0.91
|
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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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