Report For Date 20/03/2017
NCDEX Refined Soya Oil April 2017 Weekly: Cover short position
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Traders short and holding the same can maintain the stop loss at 653.
Cover short position at 645.25 or below as the opportunity arises.
The demand zone is 637-624.
The low registered last week was 626 and recovered to close at 645.25.
As a result of the recovery from support and demand zone further slide is below 624.
As long as 624 is not violated objective remains to cover short position.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
645.25
|
674.99
|
DOWN
|
664.8
|
17.02
|
612
|
632
|
639
|
653
|
673
|
*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
|
645.3
|
0.5
|
196880
|
12.0
|
53100
|
-2.3
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
39.32
|
3.11
|
21.98
|
49.80
|
-3.98
|
-136.62
|
31.53
|
-0.12
|
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.