Report For Date 24/08/2016
NCDEX Soya Bean October: Further Weakness Is Below 3435
NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 3525.
Cover short position at 3473 to 3435 as the opportunity arises.
Minor rise to 3497 or above can be witnessed.
A close above 3525 with bullish candle can trigger off near term pullback towards 3589 or above.
Sell on fall below 3435 with high of the day stop loss or 3456 whichever is higher.
TREND INFORMATION WITH INTRA-DAY LEVEL
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
3473.0
|
3577.6
|
DOWN
|
3770.0
|
15.07
|
3405
|
3451
|
3475
|
3497
|
3543
|
*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
|
3473.0
|
0.5
|
42950
|
-8.3
|
55990
|
-4.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
35.09
|
8.68
|
24.37
|
-14.70
|
-59.54
|
0.17
|
52.92
|
15.14
|
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.