MCX Cotton Bales February 2017: Further Rise Is Above 21080

Report For Date: 20/02/2017

MCX Cotton Bales February 2017: Further Rise Is Above 21080

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

Traders long and holding the same can maintain the stop loss at 20600.

Correction to 20773 or below can be used for buying with a stop loss of 20600.

Resistance will be at 20927-21023-21080.

Traders can buy above 21080 with low of the week as stop loss or 20870 whichever is lower.

TREND INFORMATION WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	20870.0	20139.7	UP	19330.0	30.12	20523	20773	20927	21023	21273

*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
20870.0	-0.3	180460	17.2	7863	26.0	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
66.74	-1.51	87.53	3.08	476.35	6.80	82.79	-2.80

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.