NCDEX Soya Bean Weekly November: Lower Range Is To Cover Short Position

Report For Date 26/09/2016

NCDEX Soya Bean Weekly November: Lower Range Is To Cover Short Position

NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)

Traders short and holding the same can maintain the stop loss at 3372.

Exit long and sell on rise from 3220-3307 with a stop loss of 3372.

Resistance is a 3258-3307.

Expect lower range of 3171-3035 to be tested.

A weekly close above 3372 can mark a reversal for pullback to higher range.

Demand zone is from 3160-2848 therefore lower range can be used to cover short position.

TREND INFORMATION WITH WEEKLY LEVEL

*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

TECHNICAL INDICATORS TABLE

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.