Login ID:
Password:
Partner Login
Contact Us : 07666977977

MCX Mentha Oil Jan: Anticipated Price Movement Is Unfolding

11 Jan 2017 10:04 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

 MCX Mentha Oil Jan: Anticipated Price Movement Is Unfolding    


Report for Date: 11/01/17

MCX Mentha Oil Jan (Price figures below are in Rs/INR per Kg)

The trend is in Mentha oil futures on MCX.

Jan 2017 Futures contract settled at Rs 1025.70 per Kg Tuesday.

We have been constantly warning that a downward prices movement towards DRV may be seen and the same happens Tuesday as Mentha oil prices registered low of 1018.70 before settling at 1025.70 per Kg.

Momentum Oscillators are indicating that prices may further ease towards the next support cluster of 1012 – 999.

The lower top of 1059 will act as a major resistance now and anything close above it only will boost chances of extended uptrend.

Till then it is wise to stay away from the market in absence of clear momentum.
 
TREND INFORMATION WITH INTRA-DAY LEVELS
 
STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Stay Away 1025.7 1018.3 UP 1011.2 13.1 985.0 1013.8 1030.6 1042.6 1071.4


*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
1025.7 -1.9 975240 42.7 3771 -2.6 Negative Unwinding



TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
50.56 -11.17 34.93 -6.91 13.96 -14.95 48.87 -22.19







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.

Read Disclaimer
N       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest TechAnalysis Report
MCX Mentha Oil October: Breakout Seen, Rally Likely
NCDEX Guar Seeds 10 MT November: Cover Short Positions ...
NCDEX Guar Gum November: Cover Short Positions And go L...
MCX Mentha Oil October: Breakout Seen, Rally Likely
NCDEX Guar Seeds 10 MT November: Cover Short Positions ...
more
Top 5 News
NCDEX Coc December: Further Weakness Is Below 1491
NCDEX Kapas April 2018: Lower Range Can Attract Suppo...
MCX Cotton Bales November: Further Weakness Is Below ...
NCDEX Refined Soya Oil November: Expect Higher Range...
NCDEX Soya Bean November: Exit Long On The Rise
Top 5 Special Reports
India Cotton Shipments Up 5%, Y/y, 2016/17
Technical: Chana Indore Spot : Expect Lower Range To Be...
Technical: Turmeric Nizamabad Spot : Correction Is For ...
Technical: Red Chilli Guntur Spot : New Rising Leg Resu...
Weekly: Raw Pulses Trade Mix; Slow Demand In Dals
Copyright © CC Commodity Info Services LLP. All rights reserved.