NCDEX Soya Bean February’17: Cover Short Position At Lower Range

Report For Date 13/01/2017

NCDEX Soya Bean February’17: Cover Short Position At Lower Range NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)


Exit long and sell on rise from 3055 or above with a stop loss of 3074.

Expect lower range of 3031-3007 to be tested.

The bandwidth indicator is falling which suggest that volatility is getting narrower.

Trend is down and falling which indicates that downside momentum may be loosing steam.

Further downside momentum can be witnessed on fall and close below 3000.

Lower range can be used to cover short position.



TREND INFORMATION WITH INTRA-DAY LEVEL

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3041.00	3099.30	DOWN	3222.0	2.12	3007	3031	3045	3055	3079

*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
3041.0	0.1	24750	-60.0	150060	-1.4	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
37.85	2.20	23.04	73.91	-28.79	1.35	31.15	-30.99

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.