MCX Crude Palm Oil C2: Further Weakness Is Below 453

MCX Crude Palm Oil C2 (Price are in INR (Rs)/10 kg)

Breakout and close above 482 can show a rally and till the rise to 476 or above to exit long position.

Sell on fall below 453 with high of the day stop loss or 468 whichever is higher.

Band of movement can be 482 to 453.

Oscillation during the week around DRV can happen for sideways movement between the bands.

Decisive movement out of the band can provide directional movement henceforth.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Cover Short	468.00	461.11	UP	461.2	6.02	437	457	464	476	495

*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
468.00	0.56	90720000	121.92	4528.00	73.89	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
51.97	1.79	84.46	10.53	-4.62	23.08	74.80	3.85

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.