Date: 14/01/2019
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Accumulate at 746-739 with a stop loss of 731.
Expect higher range of 760-781 to be tested.
Open interest increased with the rise and positive candle which indicates addition of long position therefore accumulate at lower range.
Trend also turned up as close is above WRV with bullish candle.
Expect the lower top of 779 to be tested in near term to short term.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
752.40
|
740.71
|
UP
|
752.4
|
11.01
|
717
|
739
|
746
|
760
|
781
|
*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
|
|
752.4
|
2.5
|
78140.0
|
62.6
|
39020.0
|
14.3
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
54.40
|
13.32
|
63.57
|
71.27
|
-4.00
|
32.20
|
62.84
|
52.38
|
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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.
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