Report For Week Dated:18/05/2015
NCDEX Refined Soya Oil (Price are in INR (Rs)/10kg)
Traders long and holding the same can keep the stop loss at 563.
Resistance is at 608-611.
Further breakout and close above 611 can lead to a rally towards 654 could be witnessed.
Breakout is essential now as follow up rise above 611 on closing can deliver the near term rally. Alternatively, lower range of 598-589 could be tested.
In that case consolidation within the wider band of 611 to 568 will continue.
Currently Soya Oil prices are near term upper band of the wider band therefore sustain breakout now is required.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
602.05
|
585
|
UP
|
600
|
8.05
|
589
|
598
|
604
|
608
|
617
|
*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
|
|
602.05
|
0.39
|
272845
|
-11.57
|
77755
|
-10.27
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
56.22
|
1.47
|
47.77
|
30.68
|
3.84
|
24.08
|
24.17
|
-10.89
|
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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