Report For Date: 19/02/2018
NCDEX Kapas April 2018 in Rs/20Kg
Correction of the rise from 859 to 1064 is being witnessed.
The 61.8% retracement of 937 is being tested.
Support will be at 923-922.
If fall and close below 922 is witnessed then expect slide towards 903-885.
Resistance will be at 955-977.
A rise and close above 977 with bullish candle can mark a reversal for near term rally to 1016-1064.
Generally, it has observed for last few years Kapas price have not witnessed long term directional movement.
All top and bottom have tended to overall lap each other.
Lower level of 922 and 903-885 can provide support for recovery and bounce.
Better opening on Monday or initial rise during the week to resistance 955-975 can be used to exit long position.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
941.0
|
975.8
|
DOWN
|
941.0
|
15.02
|
869.5
|
922.0
|
955.5
|
974.5
|
1027.0
|
*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
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
941.0
|
-4.3
|
21212
|
-11.6
|
7294
|
85.5
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
47.64
|
-14.65
|
19.53
|
5.85
|
16.58
|
-20.28
|
33.83
|
-23.24
|
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.