NCDEX Kapas April 2017 Weekly: Lower Range Is To Cover Short Position

Report For Date: 24/10/2016

NCDEX Kapas April 2017 in Rs/20Kg

Traders short and holding the same can maintain the stop loss at 925.

Cover short position at 897 or below as the opportunity arises.

Further weakness is below 833.

Swing bottom appears to be in place as last week high low was higher over its previous week’s high low.

Resistance is at 925 and needs to get crossed in order to mark a reversal.

Downside momentum may continue below 857 weekly closing and till then cover short position at lower range.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	897	933	DOWN	929.00	19.08	822	871	895	920	969

*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
897.0	1.1	43026	93.6	13187	1.2	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
44.86	4.59	40.76	11.26	-11.98	-2.67	48.54	7.36

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.