NCDEX Refined Soya Oil May 2017 Weekly: Expect Lower Range To Be Tested

Report For Date 24/04/2017

NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)

Traders short and holding the same can maintain the stop loss at 639.10.

Exit long and sell on rise from 622-632 with a stop loss of 639.10.

Open interest increased with the fall and negative candle which indicates addition of short position.

Bandwidth increased with the fall which suggests directional movement in the directional of the current trend.

Expect lower range of 617-601 to be tested.

TREND INFORMATION WITH INTRA-DAY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.