Report for Date: 22/05/2017
MCX Crude Oil June 2017 : Expect Higher Range To Be Tested
(Price figures below are in Rs/INR per Kg)
Expect higher range of 3339-3511 to be tested.
Cover short position at 3277 or below.
Contrarian buy situation has emerged.
Addition of long position has been witnessed.
Weaker opening and correction first to 3230-3167 can be used for buying with a stop loss of3100.
Higher range can be used to exit long.
If higher range is attained first then avoid buying at lower levels as they attain.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
3277.00
|
3310.99
|
DOWN
|
3244.00
|
21.04
|
2995
|
3167
|
3230
|
3339
|
3511
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
3277.00
|
5.6
|
9115200
|
274.3
|
9796
|
187.5
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
47.81
|
17.06
|
42.51
|
50.23
|
-51.26
|
5.98
|
55.86
|
36.95
|
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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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