Special Technical Report

Monday | Sept 16, 2013

Content
Special Technical Report on NCDEX Oct Soya Bean Strategy / Recommendations

Prepared by

Anuj Gupta A.V.P - Technical Research Anuj.gupta@angelbroking.com (022) 29212000 Extn. 6137

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

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Special Technical Report

Monday | Sept 16, 2013

NCDEX OCTOBER SOYABEAN (CMP 3403)

As seen above in daily price chart of NCDEX Soya Bean Oct contract, it is trading in Falling price channel (ABCD) from last couple of days. In the last week it had touched the upper line (AB) of the channel. Today prices are trading in a negative territory with Gap down opening. It is also observed that the NCDEX Soya Bean October contract is trading in a down trend with Lower Top Lower Bottom formation which is a sign of pessimism. Indicator Analysis Prices are trading below its 5-Day and 20-Day EMA, indicating a short-term pessimism the market. On the oscillator front, RSI is falling and MACD is showing negative crossover which indicates the symptoms of bearishness. Key Levels Resistance could be seen at 3450 levels and then final resistance at 3600 levels. Price can find support at level of 3300 levels and below that strong support is seen at level of 3200 levels. Looking at down trend formation coupled with oscillators indicating pessimism, we recommend sell in NCDEX Soya Bean Oct contract.

Positional Call (5-7 Days) - Sell NCDEX Soya Bean Oct between 3440 - 3460, SL - 3600, Target 3230 / 3200 (CMP 3403)
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