Report For Date: 22/05/2017
NCDEX Kapas April 2018 Weekly: Cover Short Position
NCDEX Kapas April 2018 in Rs/20Kg
Cover short position at 983 or below.
Contrarian traders long and bought last week need to maintain the stop loss at 953.
Resistance will be at 991-1001-1009.
Further rise can resume on rise and close above 1009.
Traders can play for pullback towards DRV on rise above 1009.
Bandwidth has increased and if resistance of 1009 is crossed then expect a pullback towards 1029.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
983.00
|
1029.94
|
DOWN
|
1035.50
|
7.04
|
944
|
973
|
991
|
1001
|
1030
|
*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
|
983.0
|
-0.9
|
11748
|
19.4
|
2759
|
-1.5
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
41.96
|
-3.16
|
29.63
|
36.31
|
-1.33
|
-157.13
|
44.36
|
-1.78
|
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.