Report For Date 25/07/2016
NCDEX Refined Soya Oil September Weekly: Band Of Movement 649-626
NCDEX Refined Soya Oil: (Price are in INR (Rs)/10kg)
Traders short can maintain the stop loss of 649.
Resistance will be at 639-644-649.
Expect lower range of 629-626-613 to be tested.
Further weakness is below 626.
Exit long and sell on rise to 639-645 with a stop loss of 649.
Cover short position at 629-613.
Further weakness is below 626.
Sell is below 626 or cover short position.
Buy above 649 with low of the week as the stop loss or 635 whichever is lower.
Band of movement will be 649-626.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
635.25
|
636.22
|
DOWN
|
632.9
|
8.07
|
613.7
|
629.3
|
639.0
|
644.9
|
660.5
|
*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
|
|
635.3
|
0.2
|
232880
|
-30.1
|
111060
|
1.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
48.74
|
0.96
|
20.75
|
-15.71
|
3.89
|
-20.62
|
10.01
|
-4.50
|
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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