Report For Date 02/05/2017
NCDEX Refined Soya Oil June 2017 Weekly: Expect Lower Range To Be Tested
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Traders short and holding the same can maintain the stop loss at 626.
Exit long and sell on rise from 611-619 with a stop loss of 626.
Expect lower range of 606-594 to be tested.
Open interest increased with the fall and negative candle which indicates addition of long and short position.
Bandwidth increased with the fall which suggests that lower range could be tested with volatility. This also means that directional movement on the downside is being witnessed.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
610.9
|
647
|
DOWN
|
664.8
|
17.02
|
594
|
606
|
614
|
619
|
631
|
*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
|
610.9
|
-1.2
|
101240
|
-31.3
|
55050
|
26.9
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
30.88
|
-5.71
|
14.03
|
-13.78
|
-15.91
|
-10.33
|
27.76
|
39.49
|
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.