NCDEX Soya Bean Weekly April: Cover Short Position At Lower Range

Report For Date: 20/03/2017

NCDEX Soya Bean Weekly April: Cover Short Position At Lower Range

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

Traders short and holding the same can revise down the stop loss to 2910.

Further weakness is below 2836.

Indicators are in oversold zone therefore reversal if it has to happen then can be now as breakdown and close below 2836 can lead to heavy slide.

Recovery and reversal can happen from lower range of 2848-2777.

Traders short and holding the same can cover at lower range as the opportunity arises.

Expect higher range of 2919-2990 to be tested.

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.