NCDEX Kapas April 2019 Weekly: Weakness Is Below 1136 Closing

Report For Date: 16/07/2018

NCDEX Kapas April 2018 in Rs/20Kg

Cover short position at 1168.5 or below.

Further weakness is below 1136.

Stochastic exit the oversold zone which suggest that near term rise towards 1180-1211 can be witnessed.

Near term rise can be happening for a pullback towards DRV-1243 if 1136 is not violated immediately.

Trend is down as closing prices are below the DRV.

Last 2-3 weeks, we have seen indecisive candles at the support of 1136.

Traders can sell below 1136 with high of the week as the stop loss or can take a contrarian view base call to buy with a stop loss of 1136 to play for 1180-1211-124 for near term.



TREND INFORMATION WITH WEEKLY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.