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NCDEX Soya Bean Weekly May 2019: Resistance At Higher Range

20 Apr 2019 3:10 pm
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Report For Date: 22/04/2019


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


Traders long and holding the same can maintain the stop loss at 3592.

Accumulate at 3650 or below with a stop loss of 3592.

Resistance is at 3750-3850.

Breakout and close above 3829 is essential and till then expect resistance at higher range.



TREND INFORMATION WITH WEEKLY LEVEL

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

3700.00

3593.63

UP

3442.00

4.01

3550

3650

3700

3750

3850


*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV. Positional Traders can hold long position with WRV as the closing stop loss and close > WRV. Traders can hold short position with WRV as the closing stop loss and close < WRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

3700.0

-0.5

33800.0

-64.3

147790.0

2683.2

Indecisive

Addition long/Short


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

56.85

-2.21

61.75

-8.44

74.46

-4.90

43.71

40.21


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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