Report For Date: 17/10/2016
NCDEX Kapas April 2017 Weekly: Lower Range Is To Cover Short Position
NCDEX Kapas April 2017 in Rs/20Kg
Traders short and holding the same can maintain the stop loss at 925.
Cover short position at 887.5-867 as the opportunity arises.
Further weakness is below 833.
Expect higher range of 899-932 to be tested.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
887.5
|
934.3
|
DOWN
|
929.0
|
19.08
|
834
|
867
|
878
|
899
|
932
|
*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
|
887.5
|
0.7
|
22226
|
-2.8
|
13029
|
-1.1
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
42.89
|
3.19
|
36.64
|
25.67
|
-11.67
|
-14.41
|
45.21
|
27.62
|
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.