NCDEX Soya Bean May: Lower Range Is To Cover Short PositionNCDEX Soya Bean: (Price Are INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 3985.Exit long and sell on rise to 3933-3956 with a stop loss of 3985.Expect lower range of 3904-3852 to be tested and 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
3927.00
4069.08
DOWN
4059.0
25.04
3852
3904
3933
3956
4008
*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
3927.0
-1.3
70550
-5.4
70820
-7.8
Negative
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
39.64
-7.41
17.75
-15.88
13.58
-53.45
24.81
-18.67
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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