NCDEX Soya Bean Weekly November: Further Weakness Is Below 2837

Report For Date: 23/10/2017

NCDEX Soya Bean Weekly November: Further Weakness Is Below 2837

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

Cover short position at 2907 or below as the opportunity arises.

Expect higher range of 2939-2997 to be tested.

Correction continues below 2837.

Trend is down and correction is likely to end if 2837 is not immediately violated on closing.

TREND INFORMATION WITH WEEKLY LEVEL

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	2907.00	3009.45	DOWN	2985.0	29.09	2823	2881	2913	2939	2997

*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
2907.0	-0.4	117900	51.9	100840	11359.1	Indecisive	Addition long/Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
45.60	-1.29	18.09	62.62	7.18	-53.96	36.04	-5.19

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.