Report For Week Dated: 2/11/2015
MCX Cotton Bales Weekly (Price are in INR (Rs)/Bales)
Traders can buy if breakout and close above 16180 is witnessed.
Resistance is at 15887-16180.
Expect lower range of 15557-15227 to be tested before moving higher.
Contrarian accumulation can be undertaken t 15557-15227 with a stop loss of 14860.
Breakout and close above 16180 is essential to show a rally and must not violated 14860 in weeks to come to generate consolidation.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
15710.0
|
16006.1
|
DOWN
|
16000.0
|
11.09
|
15227
|
15557
|
15733
|
15887
|
16217
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% O Inc/Dec
|
Candle
|
Strategy
|
|
15710.0
|
-0.9
|
76530
|
-16.2
|
2466
|
7.9
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
45.53
|
-4.52
|
71.46
|
7.45
|
-106.71
|
-6.57
|
27.19
|
-7.38
|
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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.
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