Report For Date 23/05/2016
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Exit long on rise from 639 to 652 as the opportunity arises.
Resistance will be at 643-652-659.
Expect lower range of 629-607 to be tested.
Buy if trades above 659 with low of the week as the stop loss or 638 whichever is lower.
Support could be witnessed at lower range of 629.
The earlier breakout point were 635-644 and the same is being tested.
Recovery may happen from 629 or around it.
Lower range for the week can be 629-607.
First objective remains to exit long on rise to 643-659 as the opportunity arises.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
638.6
|
634.5
|
UP
|
609.0
|
22.01
|
607
|
629
|
643
|
652
|
674
|
*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
|
638.6
|
-2.6
|
327340
|
-14.6
|
115910
|
-4.3
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
52.13
|
-12.39
|
19.81
|
-35.14
|
12.55
|
-12.55
|
27.25
|
-27.77
|
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