MCX Cotton Bales October 2017: Support and Oscillation around DRV likely

Report For Date: 25/09/2017

MCX Cotton Bales October 2017: Support and Oscillation around DRV likely

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

Traders by chance long and holding the same can maintain the stop loss at 18000.

Accumulate at 18243 or below with a stop loss of 18000.

Resistance is at 18693-19143.

Further rise is above 19460.

Traders can buy above 19460 with low of the week as the stop loss.

Breakdown can resume on fall and close below 18000.

Overall nature of movement is sideways and oscillation around DRV-18270 can be witnessed.

TREND INFORMATION WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	18470.00	18270.28	UP	18440.0	28.07	17793.3	18243.3	18466.7	18693.3	19143.3

*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
18470.0	-0.8	84560	-41.8	2904	1.5	Indecisive	Addition long/Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
52.24	-3.22	51.88	-18.24	180.81	-8.28	50.82	-2.82

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.