Report For Week Dated:8/06/2015
NCDEX Refined Soya Oil (Price are in INR (Rs)/10kg)
Traders long and holding the same can keep the stop loss at 599.
Use rise to 613-631 to exit long as the opportunity arises.
The lower top cluster is at 628-633.
Longer upper shadow was seen on candlestick which suggests resistance and supply at higher range unless the close is above 617.
Expect lower range of 596-579 to be tested.
Breakout from the Fib-Speed Line can be seen which suggest that correction can be for accumulation.
Correction to 596 and below can be used for accumulation with a stop loss of 579.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
603.3
|
573.4
|
UP
|
556.6
|
20.03
|
579
|
596
|
606
|
613
|
631
|
*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
|
|
603.3
|
0.1
|
545705
|
97.2
|
207960
|
7.2
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
64.69
|
0.24
|
74.37
|
-4.32
|
11.11
|
9.70
|
49.77
|
22.43
|
Weekly Chart
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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