NCDEX Soya Bean Meal April’17: Market Movement Is Volatile

Report For Date 24/03/2017

NCDEX Soya Bean Meal April’17: Market Movement Is Volatile

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

The trend is Down but the market movement is volatile in Soya Bean Meal on National Commodity and Derivatives Exchange (NCDEX).

Soya Bean Meal April 2017 futures contract settled at Rs 23780.00 per quintal Thursday.

Down trend Continues only on fall and close below 23280.

Avoid Fresh trade for time being.

TREND INFORMATION WITH INTRA-DAY LEVEL

*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

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.