MCX CRUDE OIL CMP 2685 ABOVE IS THE MONTHLY CHART OF MCX CRUDE HERE WE CAN SEE PRICES TOPPED IN AUGUST 2013 AND FROM THERE PRICES HAVE FALLEN IN 5WAVES AS MARKED ON THE CHART AND THEN PRICES HAVE MADE BOTTOM IN THE MONTH OF FEB 2016 WHERE 5TH WAVE ENDED AND THEN WE HAVE SEEN RISE FROM 1805 TO 3442 WHICH CAN BE MARKED AS A WAVE A AND NOW WE ARE WITNESSING A RETRACEMENT WHICH IS WAVE B. WAVE B CAN END SOMEWHERE AROUND 50% RETRACEMENT MARK AS SHOWN IN THE ABOVE CHART BY THE BLACK HORIZONTAL LINE AND NOW WE COULD START WAVE C WHICH CAN GO TO 3910-4220 LEVELS IN COMING MONTHS.
MACD IS TRADING BELOW ZERO LINE AS OF NOW ONCE IT CROSSES ABOVE ZERO LINE WE COULD SEE PRICES EDGING HIGHER. MONTHLY RSI ALSO HAS TURNED ABOVE FROM THE OVERSOLD ZONES INDICATING PRICES COULD EDGE HIGHER IN NEAR TERM. PRICES ARE TRADING BELOW 8EMA 20EMA 50EMA RIGHT NOW WHICH SUGGEST SOME CONSOLIDATION COULD BE SEEN AT LOWER LEVELS IN SHORT TERM.
VIEW: FROM THE ABOVE ANALYSIS WE SUGGEST TO BUY MCX CRUDE AT 2680 AND REST ON DIPS TO 2555 FOR THE TRAGETS OF 3899--4199 IN COMING MONTHS RISK FOR THE VIEW WILL BE AT CLOSE BELOW 2345 CORRESPONDINGLY NYMEX RISK LEVEL WILL BE AT A CLOSE BELOW 34.99$ AND TARGET AROUND $59.99 AND $64.99 ZONES.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Tech Mahindra, Bharti Infratel, IOC, Lupin and Axis Bank are among the gainers, whereas Bank of Baroda, Indiabulls Housing Finance, Hero MotoCorp, State Bank of India and Yes Bank are losing sheen on NSE.capitalstars
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