MCX
Crude Oil (MCX): Thursday - 24/11/22Levels:
Support: 6350, 6200
Resistance: 6500, 6700, 6850
As per OI Data, the max Call & Put writings are seen in 6500 (3800 and 1700). So, 6500 is the crutial level.
Trade plan:
Once price test higher level in between 6440/6470/6550, we can just wait to short with a SL of 6550.
Around 6250/6200 level we can try some longs. But overall bearish.
Crude Oil (MCX): Tuesday - 22/11/22In Daily chart it is creating a M pattern, tested the low of M as in 6200 in today's session. and Nice bounce from there.
Now it's consolidating aorund 6600 level after a sharp move.
If 6600 level can be behold, buy 6600 Call with the SL of 6550 for a target of 6750/6900 in coming sessions (a day or two).
If it can not hold 6600, buy 6600 Put with SL of 6650, target: 6350/6225.
Crude Oil (MCX): Monday - 31/10/22Levels:
Support: 7180-7160, 7120, 7000 (Solid Support, even in OI data)
Resistance: 7250-7275, 7300, 7400.
OI Data (16th Nov Expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7300
Nearest Major Support in Crude per IO data: 7000
Trade setup:
1. Still by-and-large range-bound. However the range is shifted higher side.
2. New range: 7300-7000 (Price-Action data is matching with OI data)
3. Anyone wish to play hedge can go with a range-bound non-directional strategy of the following range.
A. buy 7500 CE (Nov-16 expiry) :
B. buy 6800 PE (Nov-16 expiry) :
C. sell 7400 CE (Nov-16 expiry)
D. sell 6900 PE (Nov-16 expiry)
Net credit - (i.e. you need not to pay, rather earn different of premiums): 70 per lot. (Margin you have to check with broker)
BEP (safe range): 7450-6850
Crude Oil (MCX): Friday - 28/10/22Crude levels for evening session:
-------------------------------------------------------
(Just sharing screen with levels - did not checked OI data).
If it goes above the red uptrendline ~7400 level, it will be bullish for sure.
Below 7125-7150 has good support.
Mota mota: 7100-7400 level for today.
MCX - Ichimoku Bullish Breakout Stock Name - Multi Commodity Exchange Of India Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1502.
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
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Crude Oil (MCX): Wednesday - 26/10/22Levels:
Support: 7000, 6900, 6775
Resistance: 7100, 7150, 7220, 7275
OI Data (16th Nov expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7000
Nearest Major Support in Crude per IO data: 7000
(These 7000 levels seem very important from crude, it has total 3600 OI across Call & Puts, 25% addition y'day)
Trade setup:
1. Today (26/10/2022, Wedesday) MCX is open in the evening slot (5:00 PM to 11:30 PM)
2. Crude is range-bound since last 3 trading sessions. Range is: 6900-7200.
Channel Breakout in MCXFrom past few months stock has been trading in a channel. Finally it has broken from its previous resistance with significant volume.
Also, recent quarter results were good. we can expect a good upside move from current levels.
At this price risk reward is not attractive. So, it is better to wait for retest near 1435-1400 levels.
Maintain strict stop loss at 1290.
All possible targets are marked on the chart.
This is just a view, not recommendation to trade. Do your own analysis before making any investment.
Do like and share this idea and share your opinion in the comment section.
NSE:MCX
My Assumption on Crude Oil November 2022, This is my assumption on Crude Oil and it may be 100% wrong in actual Trade. I am not a SEBI registered analysts and I do not encourage anyone to take trade on the basis of that. Please consult your Financial Advisor before entering into any trade. I just shared what I feel about Crude Oil in the coming days.