MCX Cotton Bales June 2017: Sideways Movement Will Continue

Report For Date: 22/05/2017

MCX Cotton Bales June 2017: Sideways Movement Will Continue

MCX Cotton Bales: (Price in Rs/Per Bale)

Traders long and holding the same can maintain the stop loss at 20650.

Resistance will be at 21320-21520-21780.

Further rally will continue if breakout and close above 21780 is witnessed.

Bandwidth is falling therefore expect contraction and sideways movement with volatility.

Lower range could get support at 20940-20650 unless decisively break 20650 on closing.

TREND INFORMATION WEEKLY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.