Report For Date: 23/11/2017
MCX Mentha Oil December: Book Profits At Higher Levels
MCX Mentha Oil (Price are in INR)
The trend is up but a profit taking may be seen.
Keep a stop loss of 1710 for any long positions and book profits on rise to 1756 – 1790 levels or above as the opportunity arises.
On break and close below 1710 may push prices back to DRV.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Book Profits
|
1743.2
|
1596
|
UP
|
N/A
|
N/A
|
1629
|
1709
|
1756
|
1790
|
1871
|
*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
|
|
1743.2
|
0.2
|
576720
|
-19.2
|
2198
|
7.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
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RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
74.9
|
0.3
|
62
|
37.7
|
104
|
0.4
|
71.96
|
-5.23
|
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.
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