Report For Date: 28/05/2018
MCX Mentha Oil June: Trend Still Down
MCX Mentha Oil (Price are in INR )
Trend is still down and resistance is likely to be witnessed at higher range.
Traders short and holding the same can maintain the stop loss at 1242.
Resistance will be at 1149-1173-1237.
Reversal process can resume on rise and weekly close above 1242.
Expect lower range of 1109-1045.
Downside momentum is below 1116 closing.
In the event of sustained fall and close above 1116 expect a slide to 1013.
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
1133.30
|
1342.45
|
DOWN
|
1424.8
|
9.02
|
1045.2
|
1109.2
|
1149.1
|
1173.2
|
1237.2
|
*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 -G/L%
|
OPEN INTEREST
|
OI -G/L %
|
CANDLE
|
POSITION
|
1133.3
|
-3.7
|
1073880
|
9.5
|
928
|
40.2
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
37.70
|
-5.71
|
23.97
|
-12.56
|
-61.68
|
-9.82
|
34.14
|
-12.28
|
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.