NCDEX Soya Bean Weekly May: Accumulate

Report For Date: 24/04/2017

NCDEX Soya Bean Weekly May: Accumulate

NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)

In last week’s update, we had indicated about contrarian buy.

Trend shown is up with bullish candle and addition of long position.
Expect higher range of 3117-3286.

Weaker opening and correction first to 3009-2948 can be used for buying with a top loss of 2900.

Reversal on the weekly average has been witnessed as trend turn up with bullish candle.

TREND INFORMATION WITH WEEKLY LEVEL

*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

TECHNICAL INDICATORS TABLE

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.