Report For Date14/05/2018
NCDEX Soya Bean June 2018: Cover Short Position
NCDEX Soya Bean: (Price Are INR (Rs)/Quintal)
Resistance will be at 3743-3765-3796.
Lower range can be 3713-3661.
Traders long and holding the same can exit on rise to resistance and re-enter long if close is above 3796.
Sell on rise from 3734 to 3765 with a stop loss of 3796.
On sustained rise and close above 3796 expect a rally towards the Bollinger Upper Band of 3835.
Traders can buy if trades above the open of the day and above 3796 with low of the day stop loss or 3734 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVEL
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
3734.00
|
3783.59
|
DOWN
|
3856.00
|
16.04
|
3661
|
3713
|
3743
|
3765
|
3817
|
*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
|
3734.0
|
-1.2
|
60290
|
29.4
|
159940
|
8.3
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
44.40
|
-10.26
|
72.75
|
-3.90
|
-31.38
|
3.61
|
45.36
|
-16.57
|
Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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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