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NCDEX Refined Soya Oil March’17: Expect Lower Range To Be Tested

17 Feb 2017 9:51 am
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Report For Date 17/02/2017

NCDEX Refined Soya Oil March’17: Expect Lower Range To Be Tested

NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)

Traders short and holding the same can maintain the stop loss at 682.

Exit long and sell on rise from 670 to 676 with a stop loss of 682.

Expect lower range of 667-655 to be tested.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

670.55

693.33

DOWN

711.9

20.01

658.6

667.4

673.1

676.2

685.0


*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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

670.6

-1.4

35830

46.1

50990

-2.6

Negative

Unwinding


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

29.36

-15.36

9.18

-20.64

-7.42

-14.68

26.62

-30.80





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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