Report For Date: 21/08/2017
NCDEX Kapas April 2018 Weekly: Cover Short Position At Lower Range
NCDEX Kapas April 2018 in Rs/20Kg
Technical Rating: 78.50 – Strong Down Trend
Traders short and holding the same can revise down the stop loss to 904.
Resistance will be at 869-882-904.
Lower range can be 855-829.
Exit long and sell on rise to 869-882 with a stop loss of 904.
Lower range can be used to cover short position.
Last bottom was at 847 therefore lower range can attract support and recovery from lower
range cannot be ruled out unless sharp fall and weekly close below 847 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
867.5
|
919.4
|
DOWN
|
1035.5
|
7.04
|
829
|
855
|
869
|
882
|
908
|
*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
|
867.5
|
-1.3
|
10492
|
-43.6
|
6710
|
-6.0
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
35.38
|
-4.75
|
51.95
|
-13.73
|
-38.43
|
1.92
|
21.45
|
-13.01
|
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.