NCDEX Soya Bean Weekly May: Further Rise Is Above 3955 Closing

Report For Date: 16/04/2018

NCDEX Soya Bean Weekly May: Further Rise Is Above 3955 Closing

NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)

Traders by chance long and holding the same can maintain the stop loss at 3680.

Higher range for the week can be 3874-3915-3955.

Further rise can continue if the close is above 3955 closing with bullish candle at the end of the week.

Bollinger Band and Average are at 3699-3508 and 3604.

Correction and consolidation in the Bollinger Band range of 3699-3508 can be witnessed if breakout and close above 3955 is not being witnessed immediately.

TREND INFORMATION WITH WEEKLY LEVEL

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	3852.00	3605.31	UP	3058.0	24.11	3705.7	3810.7	3874.3	3915.7	4020.7

*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
3852.0	-0.6	293290	-17.4	180130	32.0	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
68.89	-2.40	60.45	30.39	194.07	-1.12	80.91	0.75

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.