NCDEX Kapas April 2019 Weekly: Extreme Near Term Band 1172-1128

Report For Date: 17/09/2018

NCDEX Kapas April 2018 in Rs/20Kg

In the year 2017, we saw July to November sideways movement at lower side of the fall. In November 2017, we saw breakout above 1260 for rally towards 1468.

Currently, it appears to be similar build up of movement for sideways volatility. The same is shown via rectangle on the chart.

The band of movement is 1216 to 1128.

Downside momentum is below 1128 and pullback could be happening towards 1182-1216.

Trend is down and traders short and holding the same can maintain the stop loss at 1172.

Downside momentum is below 1128 and sell can be below 1128 with high of the week as the stop loss or 1172 whichever is higher.

Extreme near term band for 1-2 week can be 1172-1128.


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.