Report For Date: 24/04/2017
MCX Cotton Bales May 2017: Expect Higher Range To Be Tested
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders long and holding the same can maintain the stop loss at 20420.
Weaker opening and correction first to 21227-20873 can be used for buying with a stop loss of 20420.
Expect higher range of 21693-22500 to be tested.
Breakout and close above 21800 can extend.
In that case expect a rally to test the peak of 23140.
TREND INFORMATION WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
21340.0
|
20747.6
|
UP
|
19330.0
|
30.12
|
20053
|
20873
|
21227
|
21693
|
22513
|
*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
|
|
21340.0
|
1.9
|
359670
|
128.7
|
6660
|
20.1
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
62.93
|
6.95
|
25.75
|
106.02
|
507.35
|
-0.80
|
59.45
|
21.85
|
.png)
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.
0 Comments 
Post Comment 
