MCX Mentha Oil March: Cover Short Positions

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MCX Mentha Oil March: Cover Short Positions

20 Mar 2018 10:37 am

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Report For Date: 20/03/2018

MCX Mentha Oil March: Cover Short Positions

MCX Mentha Oil (Price are in INR )

The trend is still down but a reversal is likely to be seen.

First priority is to cover short positions on dips to 1180 – 1170 levels or below as the opportunity arises.

Support is at 1146.

Expect higher range of 1220 – 1260 to be tested in coming sessions.

CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
1189.1	1283	DOWN	1691	12.01	1107	1167	1205	1227	1287

*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
1189.1	-1.5	521280	-13.1	1013	1.7	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
35.0	-4.6	40	49.4	-69	3.8	45.62	-4.60

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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