Future contract of MCX:CRUDEOILMJ2023 looks bullish as of now, going long at the current market price of 5817, my stop loss is at 5782 and target at 5902.
Let's do a multi time frame analysis of Crude chart. On monthly time frame Crude seems to be running in a parallel channel, except that it has given two outliers outside it. It first broke down the channel during Covid to make a new low and then during Ukraine Russia crisis it broke out of the channel to make a new high. On weekly time frame, crude made a...
Levels: Support: 6280, 6200, 6150, 6070, 6000 Resistance: 6325, 6400, 6430 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6400 Nearest Major Support per IO data: 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6325 | 6290 | 6350 |...
Levels: Support: 6320, 6290, 6220, 6150, 6072, 6000 Resistance: 6400, 6430, 6500, 6620 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6500 Nearest Major Support per IO data: 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6375 | 6320 | 6430 |...
Levels: Support: 6200, 6160, 6070, 6020 Resistance: 6280, 6320, 6340, 6360, 6400 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6500 Nearest Major Support per IO data: 6400 *surprising* Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6430 | 6375 |...
Levels: Support: 6500, 6460, 6375, 6335, 6300 Resistance: 6620, 6700 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6600 Nearest Major Support in Crude per IO data: 6400 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6620 | 6550 | 6660 |...
Chart: Logic: Levels: Support: 6420, 6300, 6250, 6175, 6075 Resistance: 6500, 6550 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6500 Nearest Major Support in Crude per IO data: 6400 (shifted from 6200 y'day) Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 |...
Levels: Support: 6350, 6300, 6200 Resistance: 6450, 6500, 6650 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6500 Nearest Major Support in Crude per IO data: 6300, 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6500 | 6400 | 6600|...
Crude is bouncing from a very good Demand Zone in WEEK Time Frame and is near to the neckline of Inverted H&S in DAY Time Frame. Buy when Breakout above Neckline Buy above 6750 Tgt 7250 - 7600 SL 6500 Disclaimer: These are my personal views and are for Educational purposes & paper trade only. Please analyse yourself also and consult your financial advisor...
Supports: 6150, 6100 Resistances: 6300, 6380, 6450 OI Data: Max Resistance: 6600 Max Support: 6000 Trend: Downward.
Supports: 6580, 6530-6550, 6480 Resistances: 6620, 6675, 6710. 6770 Per OI Data: Max Support: 6500, 6300 Max Resistance: 6700
Supports: 6530, 6420, 6320 Resistances: 6700, 6850 OI Data: Major Resistances (Call writings): 6600, 7000 Major Supports (Put writings): 6500, 6400 It's going to be rangebound: 6500 to 6650 range. Buy around 6500, sell around 6650.
Levels: Support: 6600-6650, 6500, 6475, 6375 Resistance: 6775, 6850, 7000 OI Data (17th Jan Expiry): Nearest Major Resistance in Crude per OI data: 6500 Nearest Major Support in Crude per IO data: 6500 Trade setup: Trade setup: 1. Looking at the OI data, most crutial range is: 6500 +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 |...
Supports: 5900, 5800, 5700 Resistance: 6050, 6150, 6275 Max OI: Call side: 6000 & 6500 Put side: 6000 Trend is downtrend only. 6000 is the most crucial level as 10K+ OI (Call + Put) is sitting there.
Support: 6080, 6000 Resistance: 6150, 6250, 6350 View: Sell on rise. Too much call Open Interest addition is seen. Now where to sell (on rise)? 6250-6275 is perfect level to short. Next is 6350 level. OI Data: Call writing are havoc. 6100 (2.8K), 6200 (3.5K), 6300 (4.1K), 6400 (4.6K), 6500 (8.1K). Put writing: 6100 (2.5K), 6000 (3,5K)
MCX Evening Session Crude Oil level. Supports: 6350, 6200 Resistances: 6700, 6850, 7100. Overall it's range bound. From OI perspective (15th Dec Expiry): 1. Max Call writings (Resistance) are in 6700 (2882 contracts). 2. Max Put writings (Support): 6500 (1850)
VERDICT MCXCRUDE MCX:MCXCRUDEX Making a Giant Head and Shoulder Crude Can Show Huge Upside Caution For Stock Markets Especially Who Import Crude Oil Keep Watch Only For Study Purpose
Crude Long (01 Nov) RSI-55 Buy at CMP- 7257 or at 7240 SL- 7200 Target- 7340, 7379 Join us, Learn more, Earn more Disclaimer- We are not SEBI registered advisor. Charts and views are only for educational purpose.