MCX Cotton Bales July 2017: Expect Lower Range To Be Tested

Report For Date: 27/06/2017

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

Exit long and sell on rise from 19840-20410 with a stop loss of 20650.

Expect lower range of 19510-18610 to be tested.

Bandwidth increased with the fall and negative candle which indicates downside momentum could be seen or momentum in direction of price is likely to be witnessed.

At lower side support gap is at 19550-19340 and the same could be tested with volatility.

Recovery from support gap is likely if it is tested in time to come.

TREND INFORMATION WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	19840.0	20670.4	DOWN	20470.0	16.06	18610	19510	20080	20410	21310

*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
19840.0	-3.1	198790	0.0	5682	31.1	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
39.70	-16.13	16.12	-45.52	153.79	-39.66	46.06	-6.14

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.