Date: 03/12/2018
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Traders short and holding the same can maintain the stop loss at 730.
Near term pullback can resume if sustains above 730 at the end of the week.
Retracement levels of the rise from 609 to 802 during the period May 2017 to March 2018 are placed at 705 and 684.
Stochastic is in oversold zone therefore lower levels of 705 and 684 can provide support at lower range for near term reversal.
Bounce may be witnessed from either of the retracement level for near term reversal.
A close above 730 can trigger a reversal for pullback towards WRV-746 or above.
Resistance will be at 718.4-730.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
717.10
|
746.56
|
DOWN
|
743.4
|
9.11
|
690.8
|
708.8
|
718.4
|
726.7
|
744.7
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
717.1
|
-1.8
|
42120.0
|
-5.7
|
31920.0
|
29.3
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
37.76
|
-10.76
|
13.75
|
21.63
|
-3.85
|
-99.92
|
21.80
|
-3.25
|
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.