MCX Cotton Bales October 2017: Breakout Above 19460 Is Essential 9 Oct 2017 12:29 pm   0 Comments  |   Post Comment  |  Font Size A A A  Report For Date: 09/10/2017 MCX Cotton Bales October 2017: Breakout above 19460 is essential MCX Cotton Bales: (Price in Rs/Per Bale) Traders by chance long and holding the same can maintain the stop loss at 18000. Expect higher range of 18827-19207 to be tested. Further rally is above 19460. Consolidation around DRV is likely as long as 18000 is not violated strongly with bearish candle. Breakout and close above 19460 is essential and if breakout not witnessed then slide down to 17133 to 16060 could be witnessed. The current movement appears to be like B structure therefore breakout essential and failure and fall below 18000 will confirm B structure which means slid e to 17133-16060 could be happening. At this point bias is for sideways up trend as long 18000 is not violated. TREND INFORMATION WEEKLY LEVELS STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Long 18670.0 18275.2 UP 18440.0 28.07 18067 18447 18603 18827 19207 *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 18670.0 0.8 77130 -25.8 2741 -11.0 Positive Unwinding TECHNICAL INDICATORS TABLE RSI 1-ROC-RSI STOCHASTIC 1-ROC- STOCHASTIC MACD 1-ROC MACD RS 1-ROC RS 54.61 3.16 29.79 -6.23 170.87 0.25 55.15 4.94 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.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Domestic Weekly Technical Analysis MCX : Cotton Weekly Chart MCX : Cotton Weekly Chart MCX : Cotton Weekly Chart MCX : Cotton Weekly Chart MCX : Cotton Weekly Chart more Top 5 News NCDEX : Guar Gum & Guar Seed Weekly Chart NCDEX : Castor Seed Weekly Chart NCDEX Turmeric Weekly Chart* NCDEX : Dhaniya & Jeera Weekly Chart NCDEX : Cotton Seed & Kapas Weekly Chart Top 5 Special Reports US cotton net export sales for April 5-11 at 146,100 RB... US soybean net sales for April 5-11 at 485,800 MT, up 5... Black Matpe (Urad) SQ Burma (CNF$) Positive Trend / Ne... Rice Bran Refined Oil (Ludhiana) Bullish Trend Reversa... Mumbai Black Matpe (Urad) Trending Higher / Next Resis...