Finally Indian soy oil market closed in green amidst improved volumes and positive global cues in soy oil and crude oil.
NCDEX Soy oil April Contract
Weekly Levels: ( 9-14 Feb 2015)
Open = 599.40
Low = 585.10
High = 605.90
Close = 605.90
% weekly change between Open and Close = (605.90-599.40)/599.40 = 1.08%
Thus on weekly basis a gain of 1% was seen in the Indian soy oil futures market.
NCDEX Soy oil April Contract
Weekly Levels: ( 9-14 Feb 2015)
Open = 599.40
Low = 585.10
High = 605.90
Close = 605.90
% weekly change between Open and Close = (605.90-599.40)/599.40 = 1.08%
Thus on weekly basis a gain of 1% was seen in the Indian soy oil futures market.
Technically a BUY signal is almost
confirmed by the moving averages. 5 day and 10 day Exponential Moving Averages
(EMA) have changed direction towards upside and today's price has given closing
well above the 5 and 10 days EMA. The 5 day EMA has crossed from below to
10 days EMA making a golden cross.
Thus, it seems that next week starting
from 16th Feb, the market should trade positive.
On daily basis chart, the SUPPORT AND
RESISTANCE ARE GIVEN BELOW
S1 =595 S2= 587
R1 = 612 R2 = 615
No comments:
Post a Comment