Report for Date: 23/11/2017
MCX Crude Oil December: Higher Range Profits
Traders long and holding the same can maintain the stop loss at 3608.
Correction will be seen below 3608.
Resistance will be at 3782-3787.
Further rise is above 3787 closing with bullish candle.
Higher range may attract profit booking.
Higher range for the day can be 3782-3863.
However, trend will remain up as long as closing is above DRV.
Therefore, position traders can hold as much as possible as long as trend is up or with stop loss mentioned.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
3747.0
|
3609.9
|
UP
|
3374.0
|
13.10
|
3620
|
3701
|
3737
|
3782
|
3863
|
*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 is lower.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
3747.0
|
1.9
|
13367700
|
18.5
|
16183
|
18.7
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
64.99
|
8.62
|
67.07
|
26.10
|
66.62
|
2.92
|
58.36
|
17.30
|
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Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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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