Report For Date: 12/05/2018
MCX Cotton Bales: (Price in Rs/Per Bale)
Resistance is at 20753-20907.
On breakout and close above 21280 expect a rally to 22272.
Traders by chance long and holding the same can maintain the stop loss of 20350.
Breakout and close above 21280 is essential to set a momentum based rally.
Correction resumes below 20350.
TREND INFORMATION WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
20620.00
|
19898.07
|
UP
|
20000.0
|
23.02
|
20027
|
20467
|
20753
|
20907
|
21347
|
*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
|
20620.0
|
-0.6
|
139110
|
42.8
|
8299
|
-4.7
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
56.90
|
-3.07
|
58.75
|
-19.61
|
383.93
|
-4.86
|
62.79
|
-15.68
|
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.