MCX Cotton Bales July 2017: Sideways Movement Likely

Report For Date: 24/07/2017

MCX Cotton Bales July 2017: Sideways Movement Likely

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

Traders long and holding the same can maintain the stop loss at 19470.

Resistance is at 20520-21070.

Further rise is above 20850 closing.

Expect sideways volatility and oscillation around the DRV.

Buy of breakout and close above 20850 is witnessed with low of the week as the stop loss.

TREND INFORMATION WEEKLY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.