Angel Commodities has come out with its special technical report on MCX Potato. The research firm has advised to sell MCX Potato May between Rs 1395 - 1405 with a stoploss of Rs 1452 for the target price of Rs 1300 / 1290.
MCX Potato May contract was trading in the positive phase from last couple of weeks. We observed that prices made a "Double Top formation" on 1,450 levels on the weekly prices chart from last two consecutive weeks. In the current week prices are trading on a bearish mode after making a high of 1,433 levels.
In MCX Potato May contract Prices made a low of 850.10 levels and a high of 1,450 levels.
Indicator Analysis
On the oscillator front, 14 week RSI is falling from the overbought zone and is currently reading at 84 which indicate that the price may correct more from the overbought zone.
Key Levels
Resistance could be seen at 1,450 levels. Price can find support at level of 1,300 levels and below that strong support is seen at level of 1,250 levels.
Looking at Double Top formation and RSI is also falling from overbought zone which is basically a selling signal, we recommend Sell in MCX Potato May contract.
Positional Call (5-7 Days) - Sell MCX Potato May between Rs 1395 - 1405, SL - 1452, Target - 1300 / 1290.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Anda sedang membaca artikel tentang
Sell MCX Potato May; target of Rs 1300-1290: Angel
Dengan url
https://sehatgayahidup.blogspot.com/2014/04/sell-mcx-potato-may-target-of-rs-1300.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Sell MCX Potato May; target of Rs 1300-1290: Angel
namun jangan lupa untuk meletakkan link
Sell MCX Potato May; target of Rs 1300-1290: Angel
sebagai sumbernya
0 komentar:
Posting Komentar