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MCX Mentha Oil June: Accumulate As Breakout Witnessed

21 May 2019 11:16 am
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Report For Date: 21/05/2019

 

MCX Mentha Oil (Price are in INR)

Hold long with a stop loss of 1270.

Expect higher range of 1308-1337 to be tested.

Accumulate at 1289-1278 with a stop loss of 1270.

Breakout above has been witnessed.

Expect a rally to 1344 with volatility.
 
  

CLOSE

DRV

TREND*

Trend 

Price

Trend 

Date

L1

L2

CP

L3

L4

1296.80

1254.41

UP

1244.50

8.05

1248.23

1278.13

1289.37

1308.03

1337.93


*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

1296.8

2.4

118080

141.2

427

6.5

Positive

Addition Long


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

66.31

16.94

70.00

57.54

6.75

68.19

68.86

18.60



 



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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