Report For Week Dated: 8/2/2016
NCDEX Refined Soya Oil February: Expect Higher Range To Be Tested
NCDEX Refined Soya Oil (Price are in INR (Rs)/10kg)
Traders by chance long and holding the same can maintain the stop loss at 608.
Expect higher range of 624-634 to be tested.
Weaker opening and correction to 618-613 during the week can be used for buying with a stop loss of 608.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
619.45
|
607.83
|
UP
|
613.0
|
15.01
|
603
|
613
|
618
|
624
|
634
|
*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
|
619.5
|
1.2
|
170740
|
14.7
|
30870
|
-48.3
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
54.20
|
5.96
|
72.23
|
29.17
|
4.55
|
1.34
|
77.17
|
5.10
|
Weekly Chart
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.