Report For Week Dated:11/05/2015
NCDEX Soya Bean June (Price are in INR (Rs)/Quintal)
Traders by chance long can keep the stop loss at 3900.
The 61.8% retracement of the fall from 4855 to 2871 between the period May 2014 to October 2014 has been crossed. The 61.8% is at 4099. The close last week was 4331.
The expected levels on further breakout and close above 4155 were 4600-
4855 and the high registered last week was 4412.
Traders long can hold the same with a stop loss of 3900.
Weaker opening and correction first to 4299-4186 can be used for buying with a stop loss of 3900.
Addition of long position has been witnessed which suggest accumulation and higher prices.
In due course of time Soya Bean can test 4855.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
4331
|
3687
|
UP
|
3402
|
26.12
|
3928
|
4186
|
4299
|
4444
|
4702
|
*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
|
|
4331
|
6.41
|
458220
|
26.86
|
80000
|
9.05
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
80.68
|
6.23
|
92
|
0.47
|
141.81
|
48.96
|
81.03
|
11.63
|
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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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