Report For Date: 9/05/2016
MCX Cotton Bales: (Price in Rs/Per Bale)
Hold long position if any with a stop loss of 17170.
Further rise can continue above 17680.
Expect lower range of 17347-17067 to be tested.
Exit long on rise from 17460-17680 as the opportunity arises.
Traders can buy above 17680 with low of the week as the stop loss or 17460 whichever is lower.
In the event of a breakout and weekly close above 17680 then expect a rally towards the 50% and 61.8% retracement of the fall from 23740 to 13970.
The 50% and 61.8% retracement are placed at 18845 and 20025 respectively.
TREND INFORMATION WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
17460.0
|
16359.3
|
UP
|
16190.0
|
1.04
|
17067
|
17347
|
17513
|
17627
|
17907
|
*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
|
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
17460.0
|
4.3
|
229530
|
156.0
|
6070
|
553.4
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
69.51
|
1.21
|
93.03
|
3.25
|
293.98
|
20.72
|
65.00
|
2.72
|
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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