Report For Week Dated: 1/02/2016
MCX Crude Palm Oil (Price are in INR (Rs)/10 kg)
Hold long position with a stop loss of 436.
Expect higher range of 449-459 to be tested.
Weaker opening and correction to 443-439 can be used for accumulation with a stop loss of 436.
The C2 unadjusted chart suggest that the near term rise to 458-482 can be tested.
The supply zone can be 458-482 and the same can be used to take profits.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
445.5
|
415.1
|
UP
|
412.5
|
24.12
|
429
|
439
|
443
|
449
|
459
|
*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
|
|
445.5
|
1.8
|
61960000
|
-21.1
|
5853
|
23.2
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
62.51
|
4.77
|
95.96
|
11.47
|
2.66
|
286.95
|
80.99
|
9.12
|
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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