Report for Date: 21/08/2017
MCX Crude Oil September 2017: Further Rise Is Above 3253
(Price figures below are in Rs/INR per Kg)
Traders still long and holding the same can maintain the stop loss at 2961.
Resistance is at 3206-3253.
Cover short position at 3144-3065-2961.
Traders can buy if breakout and close above 3253 is witnessed with low of the week as the stop loss or 2961 whichever is lower.
Sideways volatility and oscillation around the DRV cannot be ruled out unless breakout and close above 3253 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
3127.00
|
3149.91
|
DOWN
|
3149.0
|
4.08
|
2924
|
3065
|
3144
|
3206
|
3347
|
*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
|
3127.0
|
-0.7
|
85597496
|
2.8
|
12076
|
-2.4
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
49.73
|
-1.52
|
84.21
|
2.16
|
-59.67
|
14.66
|
49.25
|
-8.04
|
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.