NCDEX Refined Soya Oil May 2018 Weekly: Resistance At Higher Range

Report For Date 16/04/2018

NCDEX Refined Soya Oil May 2018 Weekly: Resistance At Higher Range

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

Exit long position at 774.5 or below as Bollinger Upper Band has been cut down with bearish candle and addition of short position.

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

Expect correction to DRV-747 in near term to short position.

RSI exit the overbought zone, Stochastic has been falling and MACD slope turned down account for possible near term reversal of the preceding strong up trend has been witnessed since May 2017.

Further rally can resume on rise and close above 802 with bullish candle.

Currently contrarian short position situation has emerge for near term correction to DRV and the same is expected till 802 is not crossed on weekly closing.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	774.50	747.09	UP	644.0	7.07	748.1	767.0	778.5	786.0	804.9

*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
774.5	-1.5	83460	45.7	54980	35.5	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
63.66	-9.36	46.29	-30.43	23.23	-5.12	58.32	-5.73

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.