MCX Cotton Bales Weekly November: Near Term Band 19150-18250

Report For Date: 24/10/2016

MCX Cotton Bales: (Price in Rs/Per Bale)

Traders long and holding the same need to maintain the stop loss at 18250.

Resistance will be at 18813-18997.

Further rise is above 19150.

Weakness is below 18250.

Sell is below 18250 and till then it can be to cover short position or to exit long on the rise till 19150 is not crossed.

This means that near term band of movement can be 19150-18250.

TREND INFORMATION WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	18660.0	19389.0	DOWN	19250.0	19.08	17957	18477	18813	18997	19517

*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

Close	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
18660.0	-1.7	264200	72.3	3635	-11.1	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
47.51	-5.60	32.69	-4.49	172.88	-25.54	45.37	-12.73

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.