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MCX Mentha Oil February: Resistance At Higher Range

9 Feb 2019 3:44 pm
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Report For Date: 11/02/2019



MCX Mentha Oil (Price are in INR )


Resistance will be at 1611-1670.

Support will be at 1580-1477.

Further rally is above 1660 and till then expect resistance/selling.

Lower range of 1477-1427 can be expect to get support.

Buy is above 1660 and then then exit long or sell with a stop loss of 1660.

Lower range of 1477-1427 can be used to cover short position as the opportunity arises.


CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

1582.60

1602.33

DOWN

1591.0

18.01

1493

1552

1580

1611

1670


*Trend will remain Down as long as last close is below the pink color WRV-(Weekly Reversal Value). Trend will be Up as long as Price is above WRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

V -G/L%

OPEN INTEREST

OI -G/L %

CANDLE

POSITION

1582.6

1.6

1742040.0

213.0

883.0

-8.2

Indecisive

Unwinding


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

48.98

2.74

44.09

-11.33

-10.13

-2.13

49.25

11.65


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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