Report For Date 2/05/2016
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
The stop loss of 655 was violated and closed at 647.90.
Traders long need to exit the same on rise from 647-657-667 as the opportunity arises.3
Expect lower range of 637-608 to be tested.
Stochastic exit the overbought zone along with the fall and bearish candle which suggest that near term top is in place at 682.70.
Further rally can be witnessed only on breakout and close above 682.70.
Broadly, till 682.70 is not crossed rise to higher range is to exit long.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
647.90
|
626.28
|
UP
|
612.5
|
11.03
|
608.1
|
637.7
|
657.2
|
667.4
|
697.0
|
*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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
|
647.9
|
-4.2
|
308500
|
74.1
|
55930
|
-19.6
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.37
|
-18.29
|
65.96
|
-20.16
|
11.57
|
-0.55
|
42.69
|
-17.34
|
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.