Report For Week Dated:25/05/2015
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 587-593.
Further breakout and close above 611 can lead to a rally towards 654 could be witnessed.
Correction within an uptrend is in progress.
Lower range of 581-569 is likely to be tested before moving higher as near term weakness is being witnessed.
Accumulate at 581-569 with a stop loss of 563.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
586.2
|
566.1
|
UP
|
556.6
|
20.03
|
569.2
|
581.0
|
587.8
|
592.9
|
604.7
|
*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: 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
|
|
586.2
|
-0.8
|
209675.0
|
-19.5
|
165960
|
-1.0
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
59.04
|
-4.11
|
71.65
|
1.98
|
8.78
|
2.93
|
23.30
|
-17.20
|
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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