Report For Date: 19/02/2018
MCX Cotton Bales: (Price in Rs/Per Bale)
Support will be at 19360-19070.
Resistance will be at 19693-19977.
Exit long on rise to resistance level as the opportunity arises.
Expect lower range and support to be tested.
Correction can end if close is above 20450 with bullish candle.
Expect near term sideways volatility and oscillation around the DRV.
Lower range of 19227-18447 can offer support and recovery.
TREND INFORMATION WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
19510.00
|
19582.97
|
DOWN
|
19510.0
|
16.02
|
18477
|
19227
|
19693
|
19977
|
20727
|
*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
|
19510.0
|
-2.5
|
245640
|
-26.0
|
6861
|
-18.4
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.78
|
-11.18
|
26.05
|
-29.00
|
433.52
|
-13.14
|
35.11
|
-19.56
|
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.