Report For Date 22/05/2017
NCDEX Refined Soya Oil June 2017 Weekly: Cover Short Position
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Cover short position at 635.5 or below as the opportunity arises.
Expect higher range of 639.4-650.1 to be tested.
Weakness is below 622.
Sell is below 622 with high of the week as the stop loss.
Traders can buy above 639.4 with low of the week as the stop loss or 635.5 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
635.50
|
637.52
|
DOWN
|
687.0
|
27.01
|
618.0
|
628.7
|
632.6
|
639.4
|
650.1
|
*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
|
|
635.5
|
1.4
|
151070
|
11.3
|
48030
|
-19.0
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
45.27
|
10.54
|
89.94
|
30.12
|
-13.52
|
9.63
|
67.64
|
12.82
|
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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.
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