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NCDEX Soya Bean March’17: Expect Lower Rage To Be Tested

17 Feb 2017 9:50 am
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Report For Date 17/02/2017

NCDEX Soya Bean March’17: Expect Lower Rage To Be Tested

NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)

Traders short and holding the same can maintain the stop loss at 3040.

Exit long and sell on rise from 3002-3027 with a stop loss of 3040.

Expect lower range of 2984-2941 to be tested.

Pullback can resume above 3040 closing.


TREND INFORMATION WITH INTRA-DAY LEVEL

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

3002.00

3064.68

DOWN

3153.0

23.01

2941

2984

3010

3027

3070


*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

3002.0

-0.6

39200

31.3

199070

-0.3

Negative

Unwinding


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

26.92

-9.14

13.72

-1.81

-31.79

-9.11

26.65

-17.12






Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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