Report For Week Dated: 30/11/2015
MCX Crude Palm Oil (Price are in INR (Rs)/10 kg)
Cover short position at 397.7 or below.
Expect higher range of 403.5-418.7 to be tested.
Lower range coincides with the demand zone of 384-374 on weekly chart.
Lower range for the week is 388-373.
Addition of long position has been witnessed as open interest increased with the rise and positive candle which suggest that near term rise to 403-418 is possible.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
397.70
|
406.32
|
DOWN
|
406.5
|
6.11
|
373.10
|
388.30
|
394.10
|
403.50
|
418.70
|
*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
|
397.7
|
1.1
|
75500000
|
50.4
|
6254
|
28.5
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
39.99
|
8.27
|
14.23
|
121.87
|
-8.69
|
-0.33
|
41.12
|
45.95
|
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.