MCX Crude Palm Oil: Sideways Volatility Movement Seen

Report For Week Dated: 8/06/2015

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

The movement is under the resistance and supply point of 474-479.

Trend shown is up as closing is above the DRV.

Therefore, traders short need to cover the same at 462.7 or below as the opportunity arises.

Higher range for the week can be 468-479 which can be used to exit long position.

Lower range of 458-447 is to cover short position.

Immediate band of movement can be 469 to 441.

Lower range of 447-441 can attract support and buying.

Traders can take chance to accumulate at 458-447 with a stop loss of 441.

A breakout and close above 479 can lead to a strong pullback rally of the fall from 619.60 (March 2014) to 413 (December 2014).

The 38.2% and 50% are placed at 492 and 516 respectively.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	462.7	452.7	UP	456.8	29.05	447	458	463	468	479

*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
462.7	1.3	117000000	494.5	5777	256.6	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
55.80	4.87	76.42	7.62	-1.93	43.59	47.94	42.85

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.