NCDEX Kapas April 2018 Weekly: Expect Higher Range

Report For Date: 05/01/2018

NCDEX Kapas April 2018 Weekly: Expect Higher Range

NCDEX Kapas April 2018 in Rs/20Kg

Traders long and holding the same can revise up the stop loss to 1016.

The stop loss is raised higher from 978 to 1016 with the objective to lock profits and cut loss for trader who enters long position at higher level.

Further rise will continue above 1064.

Traders can buy of trades above the Monday’s open and above 1064 with low of the week as the stop loss of 1016 whichever is lower.

Support will be at 1016-1010-978-962.

Resistance will be at 1058-1064 and 1106.

Last week was indecisive doji which suggest that next week’s movement is above or below last week high and low.

The high and low last week was 1016 and 1064.

The 61.8% retracement of the fall from 1161 to 847 has been tested which is at 1041.

The high last week was 1064 and closed at 1031.

For last 2 weeks the closing is below 61.8%.

The closing 2 week back was 1033 and last week was 1031.

Therefore, further rise is above 1064 closing.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	1031.00	969.22	UP	919.5	17.11	962	1010	1037	1058	1106

*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
985.5	-4.4	40383	23.1	8629	-22.0	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
72.07	-0.86	84.84	-7.70	21.44	33.06	83.26	1.87

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.