Report for Date: 29/05/15
MCX Mentha Oil June (Price figures below are in Rs/INR per Kg)
The trend is still down but a major reversal is just around the corner in Mentha oil futures on MCX.
June 2015 futures contract has settled at Rs 938.00 per kg Thursday.
The fantastic rise witnessed from the crucial support area have brightened the chances of a bottoming process in Mentha oil futures.
Ideally, first priority is to cover short positions at market price and on dips to Rs 928-923 levels or below as the opportunity arises.
A bounce back towards Rs 934-925 levels is likely to be seen in coming sessions as long as the support of Rs 887 is intact.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover Short
|
938
|
966
|
DOWN
|
990
|
6.05
|
903
|
925
|
934
|
947
|
968
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
938
|
2.01
|
2249
|
33.63
|
0.00
|
0.00
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
50.19
|
9.08
|
72.30
|
6.99
|
-11.40
|
9.89
|
50.37
|
22.18
|
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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