Report For Date 29/04/2016NCDEX Refined Soya Oil May: Further Correction Below 651NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Traders long can maintain the stop loss at 651.Exit long on rise to 662-675 as the opportunity arises.Sell on fall below 651 with high of the day stop loss or 655.20 whichever is higher.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Long
655.15
653.76
UP
618.2
8.03
638.1
650.4
658.0
662.7
675.0
*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
655.2
-1.4
66280
24.0
62520
-4.7
Negative
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
55.77
-7.65
40.81
-35.70
8.56
-9.47
54.41
2.94
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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