NCDEX Refined Soya Oil March 2018 Weekly: Correction Below 731 Closing

Report For Date 19/02/2018

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

Addition of short position has been witnessed as open interest increased with the fall and negative candle.

Support will be at 733-731.

Traders long and holding the same can maintain the stop loss at 731.

Resistance will be at 741.2-746.7-758.

Further rally can be witnessed once breakout and close above 758 is witnessed.

On the immediate front, traders can take profits or exit long till 758 is not crossed at higher range levels.

Re-enter long on rise and close above 758.

Near term correction is likely if support of 731 is violated at closing.


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.