Report For Date 24/04/2015
NCDEX Soya Bean June: Expect Higher Range To Be Tested
NCDEX Soya Bean June: (Price Are INR (Rs)/Quintal)
Positional traders can hold long as much as possible as long as the trend is up.
Traders long can keep the stop loss at 3750.
Expect higher range of 4012-4108 to be tested.
On the continuous adjusted chart, the resistance is at 4099-4114.
The 61.8% retracement of the fall 4855 to 2871 is placed at 4109.
Further rally can continue of follow rise and close above 4114 is witnessed.
But for near term expect 4099-4114 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3972
|
3669
|
UP
|
3449
|
30.03
|
3820
|
3916
|
3957
|
4012
|
4108
|
*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
|
3972
|
1.3783
|
88030
|
-20.5147
|
88730
|
3.8628
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
83.82
|
1.98
|
92.04
|
4.01
|
107.73
|
17.20
|
76.72
|
-2.19
|
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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