Report For Date: 24/09/18
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders by chance long and holding the same can maintain the stop loss at 21720.
Correction within the up trend has been witnessed.
Support during the week will be at 22420-22090.
Resistance will be at 22420-22640.
A rise and close above 23240 with bullish candle can set a rise for near term to short term.
DRV-21855 could be tested and can attract support.
Lower range of 22090 or below will be tested.
Accumulate at DRV-21855 or below with a stop loss of 21720.
TREND INFORMATION WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
22310
|
21855
|
UP
|
20000.000
|
23.020
|
21540
|
22090
|
22420
|
22640
|
23190
|
*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
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
22310.0
|
-2.0
|
124480.0
|
6.4
|
3285.0
|
-11.3
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.72
|
-7.81
|
11.41
|
-49.93
|
558.79
|
-13.42
|
40.38
|
-13.54
|
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.