Technical Comment For The Day: NCDEX August Refined Soy - TopicsExpress



          

Technical Comment For The Day: NCDEX August Refined Soy Oil (09:01, 18 Jul 2013) NCDEX Refined Soya Oil futures slipped heavily yesterday, dropping well under the key Rs 670 per 10 kg levels as selling pressure remained unabated on the counter amid a heavily bearish set up. Further drop looks likely on cards on the daily charts. The counter dropped by Rs 6.45 on the day to end at Rs 665 after testing a low of Rs 663.65. The RSI and MACD are pointing towards continued weakness and a rest test of lows near Rs 662 is possible. A swing higher in intraday moves would face heavy resistance around Rs 672/675 levels. Trading Strategy: SELL AROUND RS 667/668, TP RS 664/663, SL RS 672/673 Powered by Commodity Insights
Posted on: Thu, 18 Jul 2013 04:20:02 +0000

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