MCX Cotton Bales Weekly: Exit Long On The Rise

Report For Week Dated: 27/07/2015

MCX Cotton Bales Weekly (Price are in INR (Rs)/Bales)

Support will be at 15450-15430-15280.


Expect lower support cluster to be tested.

Last week was a bearish candle with closing below the DRV.

Correction can end if rise and close above 15990 is to be witnessed.

Exit long and sell on rise to 15693-15817 with a stop loss of 15990.

Expect lower range of 15477-15137 to be tested.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	15600.0	15899.1	DOWN	15820.0	10.07	15137	15477	15693	15817	16157

*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
15600.0	-1.8	90590	48.7	2256	-43.3	Negative	Unwinding

TECHNICAL INDICATORS TABLE

	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
45.86	-7.01	36.09	-29.73	-13.35	-200.13	41.81	-6.82

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.