Report For Date 23/05/2016
MCX Crude Palm Oil: (Price are in INR (Rs)/10 kg)
Exit long on rise from 520.6 to 537.5 as the opportunity arises and sell with a stop loss of 544.
Expect lower range of 510.2-482.9 to be tested.
Correction and retracement of the last rally from 384 to 578 is in progress.
Retracement levels are placed at 505-481-457.
Another slide and close below 510 can test 505-481-457.
Reversal can happen on breakout and close above 556 and broadly till then use rise to 527-537-
to exit long position.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
520.6
|
523.6
|
DOWN
|
520.6
|
20.05
|
482.9
|
510.2
|
527.1
|
537.5
|
564.8
|
*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
|
520.6
|
-3.6
|
132360000
|
44.6
|
4593
|
-3.0
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.73
|
-12.05
|
17.23
|
-39.71
|
28.52
|
-9.55
|
36.56
|
-24.10
|
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.