NCDEX Soya Bean October: (Price Are INR (Rs)/Quintal)
Traders short can maintain the stop loss at 3168.
Resistance is at 3157-3168-3203.
Weakness will be below 3100 and 3077.
Addition of long position seen which suggest near term rise to resistance therefore traders can cover short position at 3139 or below.
Sell on fall below 3100 with high of the day stop loss.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
3139.00
3179.47
DOWN
3321.0
17.07
3065
3111
3129
3157
3203
*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
3139.0
0.8
61950
29.3
54090
0.7
Positive
Addition Long
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
47.02
9.60
63.41
23.83
-22.39
9.70
42.71
37.80
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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