NCDEX Refined Soya Oil February’17: Expect Higher Range To Be Tested 13 Jan 2017 8:31 am   0 Comments  |   Post Comment  |  Font Size A A A  Report For Date 13/01/2017 NCDEX Refined Soya Oil February’17: Expect Higher Range To Be Tested NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg) Traders long and holding the same can maintain the stop loss at 712. Expect higher range of 725.5-730 to be tested. Bandwidth indicator is still flat with negative slope. Upside momentum could be lacking in the near term rise. Addition of long position has been witnessed as open interest increased with the rise and positive candle. RSI increased but RS has not. Stochastic and MACD moved higher. If Bandwidth and RS increase then we may see Soya Oil prices test the recent high of 741. TREND INFORMATION WITH INTRA-DAY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Long 723.55 717.79 UP 719.9 11.01 716.2 720.8 722.7 725.5 730.1 *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 723.6 0.5 27500 3.2 41890 22.1 Positive Addition Long TECHNICAL INDICATORS TABLE RSI 1-ROC-RSI STOCHASTIC 1-ROC STOCHASTIC MACD 1-ROC MACD RS 1-ROC RS 59.73 5.81 73.88 24.16 2.18 24.85 66.07 -10.29 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. View Full Image Read Disclaimer   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest TechAnalysis Report Castor Seed (May 24) Bearish Trend / Sell on Rise / Ke... Castor Seed (May 24) Bearish Trend / Sell on Rise / Ke... Castor Seed (May 24) Bearish Trend / Sell at CMP / Key... Castor Seed (May 24) Neutral Trend / Buy on Breakout /... Castor Seed (Apr 24) Neutral Trend / Buy on Breakout /... more Top 5 News Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Mentha Oil (Apr 24) Neutral Trend / Buy at CMP / Price... Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy on Dips... Aluminium (Apr 24) Bullish Trend / Buy-on-Dips / Key S... Top 5 Special Reports Canadian Lentil Prices Hit Record Highs, Outlook Remain... Canadian Chickpea Prices Hit Record High, Outlook for 2... Canadian Dry Pea Market Sees Price Rise Despite Export ... Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... Soy Refined Oil (Indore) Trading Near Key Resistance (...