Report For Week Dated: 31/08/2015
MCX Crude Palm Oil (Price are in INR (Rs)/10 kg)
Cover short position at 379.8 or below as the opportunity arises.
Channel line has been tested and further weakness is below 360.
Broadly, till 360 is not violated objective remains to cover short position.
Resistance will be at 384-389.
Pullback rise can resume on rise and close above 390.
Traders short can revise down the stop loss to 384.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
379.8
|
414.0
|
DOWN
|
450.0
|
19.06
|
342
|
365
|
375
|
389
|
412
|
*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
|
|
379.8
|
-1.2
|
231390000
|
113.9
|
7797
|
3.6
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
23.87
|
-4.34
|
13.64
|
164.67
|
-15.48
|
-15.47
|
13.37
|
-10.87
|
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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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