Report For Date: 24/09/2018
NCDEX Kapas April 2018 in Rs/20Kg
Cover short position at 1152 or below.
Resistance will be at 1166-1172.
Support will be at 1158-1144.
Overall Kapas must hold the level of 1128.
Near term pullback rally is above 1172 breakout.
Breakout or breakdown outside the band 1172-1128 can set the next directional movement on weekly chart.
Momentary bias will be to create a breakout above 1172.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
1152.0
|
1225.1
|
DOWN
|
1298.6
|
16.02
|
1122.0
|
1144.0
|
1158.0
|
1166.0
|
1188.0
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
1152.0
|
-0.6
|
5288.0
|
-39.3
|
3553.0
|
-2.8
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
39.56
|
-2.34
|
26.51
|
20.01
|
-29.77
|
1.62
|
37.87
|
-9.14
|
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.