NCDEX Soya Bean Weekly February ’17: Band 3136-2980

Report For Date: 16/01/2016

NCDEX Soya Bean Weekly February ’17: Band 3136-2980

NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)
Traders short and holding the same can revise down the stop loss to 3136.

Cover short position at 3066 or below as the opportunity arises.

Further weakness will be seen on fall and close below 2980.

Pullback rise for near term can resume on rise and close above the lower top of 3136.

In that case a rise towards DRV-3244 can be witnessed.

The band of movement is 3136 to 2980.

Next directional movement is out of the band 3136 -2980.

TREND INFORMATION WITH WEEKLY LEVEL

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3066.00	3244.87	DOWN	3929.0	3.06	2958	3028	3059	3098	3168

*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

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
3066.0	-0.2	213290	67.6	151850	67.9	Indecisive	Addition long/Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
34.84	-0.72	42.91	27.14	-132.70	4.33	46.23	-11.35

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.