Report For Date: 18/07/2016
NCDEX Kapas April 2017 Weekly: Expect Higher Range To Be Tested
NCDEX Kapas April 2017 in Rs/20Kg
Expect higher range of 1077-1194 to be tested.
Higher range can be used to take profits from 1031 to 1077 or above as the opportunity arises.
Support will be seen at 1007-961 and the same could be tested with volatility as last week was a large rise of 9.2% on week to week basis.
The candle was large therefore intra-day correction or sluggish movement at higher range or current level could be seen.
Minor correction cannot be ruled out.
The lower tops are at 1055 and 1112 to cause resistance and profit booking pressure.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
1031.5
|
944.1
|
UP
|
945.0
|
8.07
|
844
|
961
|
1007
|
1077
|
1194
|
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
1031.5
|
9.2
|
48823
|
129.5
|
5944
|
-2.9
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
68.41
|
23.51
|
80.78
|
28.11
|
2.14
|
129.68
|
60.03
|
81.78
|
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.