Report For Week Dated:25/05/2015
NCDEX Soya Bean June (Price are in INR (Rs)/Quintal)
Exit long on rise from 4034 to 4412.
Further rally can be witnessed above 4412.
Resistance will be at 4156-4379.
A channel can be seen and Soya Bean has tested the upper channel line and has reacted down.
Correction of the last rally from 2871 to 4412 is in progress.
The 23.6% retracement of the rise from 2871 to 4412 is placed at 4050.
The low registered last week was 3955 and closed at 4034.
Further correction will continue on fall and close below 3955.
The 38.2% retracement is at 3847.
The DRV is at 3760.
Correction towards 38.2% and DRV is likely therefore rise to resistance is to exit long.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
4034.0
|
3760.9
|
UP
|
3402.0
|
26.12
|
3710.3
|
3933.3
|
4055.7
|
4156.3
|
4379.3
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
|
|
4034.0
|
-1.7
|
382970.0
|
-32.5
|
52000.0
|
-5.5
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
64.78
|
-4.85
|
69.96
|
-14.37
|
166.91
|
4.47
|
47.07
|
-13.35
|
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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