Report For Date: 17/07/2017
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders long and holding the same can maintain the stop loss at 19470.
Resistance is at 20200-20540.
Further rise is above 20850 closing.
Expect sideways volatility and oscillation around the DRV.
Lower range of 19650 or below could offer support.
Lower range of 19650 or below can be used for buying with a stop loss of 19470.
Downside momentum can be seen on fall and close below 19470.
Buy of breakout and close above 20850 is witnessed with low of the week as the stop loss.
TREND INFORMATION WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
19990.00
|
20522.89
|
DOWN
|
19990.00
|
14.07
|
18760
|
19650
|
20200
|
20540
|
21430
|
*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
|
19990.0
|
-2.8
|
167830
|
-13.1
|
4552
|
-15.7
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
45.13
|
-12.01
|
52.42
|
29.84
|
0.10
|
-99.76
|
34.40
|
-31.64
|
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.