MCX Cardamom Weekly March: Immediate Further Rise Is Above 1201 Closing

Report For Date: 12/02/2018

MCX Cardamom March: Immediate Further Rise Is Above 1201 Closing

MCX Cardamom Oil (Price are in INR )

Hold long if any with a stop loss of 1083.

Correction to 1132-1088 can be witnessed.

Accumulate at 1132 or below with a stop loss of 1083

Resistance is at 1159-1176-1201.

Breakout above 1201 is necessary for immediate positive momentum.

Correction is likely before moving higher.

A correction toward the retracement level could be happening.

Retracement levels are placed at 1094-1054-1024.

If fall is witnessed then Wave e could be seen which will be to test retracement levels


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	1149.5	1105.9	UP	1100.0	22.12	1088	1132	1159	1176	1220

*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
1149.5	-2.0	38300	0.8	358	15.9	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
54.40	-4.27	63.14	-15.01	12.32	19.74	50.98	-6.29

Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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.