Report For Week Dated: 31/08/2015
NCDEX Refined Soya Oil (Price are in INR (Rs)/10kg)
Traders long can keep the stop loss at 560.
Expect higher range of 580-595 to be tested.
Further breakout and close above 585 is essential to see a rally to test 609.
Overall use spikes during the week to 580-595 to exit long position.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
574.3
|
551.5
|
UP
|
511.0
|
2.01
|
551
|
565
|
571
|
580
|
595
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
|
574.3
|
0.4
|
336885
|
307.6
|
82030
|
-3.5
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
61.68
|
1.87
|
89.60
|
22.60
|
8.86
|
0.62
|
48.74
|
-3.73
|
Weekly Chart
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.