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MCX Cotton Bales October 2017: Further rise is above 19140 closing.

12 Aug 2017 12:30 pm
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Report For Date: 14/08/2017

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

Traders long and holding the same can maintain the stop loss at 18300.

Trend line breakout attempt is being witnessed but closing has been lower after registered high of 19140.

Resistance is likely to be witnessed at higher range therefore traders can take profits.

Further rise is above 19140 closing.

Resistance will be at 18743-18987-19140.

Lower range can be 18347-17707.

Traders can buy above 19140 with low of the week as the stop loss or 18590 whichever is lower.

Till 19140 is not crossed traders can exit long position to take profits or hold with stop loss of 19300.



TREND INFORMATION WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

18590.00

18070.18

UP

18440.00

28.07

17707

18347

18743

18987

19627


*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

18590.0

0.1

126030

85.9

2064

-7.9

Indecisive

Unwinding




TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

56.84

0.38

82.83

0.92

94.49

48.05

50.56

-7.93






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.


       
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