Report for Date: 28/02/2017
MCX Crude Oil March: Sideways Volatility Being Witnessed
Sideways volatility and oscillation around the DRV cannot be ruled out.
Bandwidth is falling leading to contraction of movement and sideways volatility.
Exit long on rise to 3631 or above as the opportunity arises.
Buy above 3695 with low of the day stop loss or 3623 whichever is lower.
Resistance will be at 3632-3643.
Support is at 3611-3587.
Weakness will resume below 3587.
Sell is below 3587 with high of the day stop loss or 3623 whichever is higher at the point of breakdown below 3587.
TREND INFORMATION WITH INTRA-DAY LEVELS
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STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
3623.0
|
3633.2
|
DOWN
|
3601.0
|
22.02
|
3579
|
3611
|
3632
|
3643
|
3675
|
*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
|
|
3623.0
|
0.2
|
9159700
|
46.3
|
11007
|
14.7
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
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RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
48.56
|
1.96
|
34.47
|
12.45
|
-11.50
|
7.77
|
54.22
|
5.03
|
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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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