Report for Date: 15/05/2017
MCX Crude Oil May 2017 : Weakness can continue below 2948
(Price figures below are in Rs/INR per Kg)
Traders short and holding the same can maintain the stop loss at 3174.
Harami candle has been formed on the week chart which suggests that near term pullback to 3148-3482 can be witnessed.
Weakness can resume below 2948.
Near term pullback towards DRV cannot be ruled out of 2948 is immediate not violated.
DRV is at 3273.
Overall support and demand zone is at 2820-2631.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
2969.00
|
3273.08
|
DOWN
|
3208.0
|
21.04
|
2480
|
2814
|
2994
|
3148
|
3482
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
2969.0
|
-6.5
|
85855200
|
20.3
|
18932
|
20.3
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
36.94
|
-14.48
|
24.95
|
-47.58
|
-35.18
|
-316.84
|
30.46
|
-23.84
|
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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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