Report For Week Dated: 8/2/2016
NCDEX Soya Bean February: Cover Short Position
NCDEX Soya Bean (Price are in INR (Rs)/Quintal)
Traders short can keep the stop loss at 3825.
Cover short position at 3751 or below as the opportunity arises.
Sell is below 3666 with high of the week as the stop loss or 3726 whichever is higher.
Resistance is at 3813-3866.
Near term reversal and swing bottom will be confirmed if breakout and weekly close above 3866 is witnessed.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3761
|
3683
|
UP
|
3681.0
|
15.01
|
3601
|
3707
|
3760
|
3813
|
3919
|
*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
|
|
3761.0
|
0.9
|
197390
|
-11.4
|
48180
|
-24.2
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
53.48
|
2.30
|
71.16
|
22.85
|
45.03
|
0.59
|
73.28
|
4.00
|
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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