Report For Date 3/2/2016
NCDEX Soya Bean February: Cover Short Position
NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)
Cover short position at 3794 or below.
Expect higher range of 3814 or above to be tested.
Weakness can restore below 3750.
Sell is below 3750 and cover short position till then as higher price may be witnessed.
A breakout and close above 3814 can show a trend line breakout.
TREND INFORMATION WITH INTRA-DAY LEVEL
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
3794.00
|
3824.28
|
DOWN
|
3808.0
|
20.01
|
3714
|
3764
|
3785
|
3814
|
3864
|
*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
|
3794.0
|
1.1
|
42040
|
-9.7
|
56200
|
-4.3
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
49.16
|
9.40
|
48.01
|
11.63
|
-27.14
|
13.56
|
83.47
|
6.87
|
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.