Report For Date: 02/12/2017
MCX Crude Palm Oil Weekly January: Further Rise Is Above 595 Closing
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Traders long and holding the same can maintain the stop loss at 547.
Support will be at 580-568.
Weaker opening and correction to 580-568 can be for accumulation with a stop loss of 547.
Resistance will be at 595.
Traders can buy above 595 with low of the day stop loss or 578 whichever is lower.
On sustained rise and close above 595 expect a rally to 616 and 639.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
585.9
|
543.6
|
UP
|
500.3
|
11.08
|
568
|
580
|
585
|
591
|
602
|
*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
|
585.9
|
-1.0
|
99420000
|
-12.0
|
2158
|
-49.7
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
69.42
|
-4.41
|
77.92
|
1.31
|
17.29
|
10.86
|
73.34
|
-2.25
|
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.