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NCDEX Refined Soya Oil February 2017 Weekly: Exit Long On The Rise

9 Jan 2017 10:55 am
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Report For Date 09/01/2017

NCDEX Refined Soya Oil February 2017 Weekly: Exit Long On The Rise

NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)

Traders long and holding the same can maintain the stop loss at 701.

Expect higher range of 722.6-737.10 and the same can be used to exit long and take profits.

Further rally is above 744.10 and till then use rise to exit long.

Correction resumes below 701.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

715.95

688.82

UP

638.8

5.08

693.6

708.1

714.8

722.6

737.1

*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.


PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

% V Inc/Dec

Open Interest

% OI Inc/Dec

Candle

Position

716.0

1.3

99920

87.5

33950

15.0

Positive

Addition Long

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

67.33

3.74

44.35

-23.71

20.75

3.13

80.01

8.30

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.


       
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