Report For Date: 22/10/2018
NCDEX Kapas April 2018 in Rs/20Kg
Traders by chance long and holding the same can maintain the stop loss to 1198.
Resistance will be at 1186-1195-1200.
Near term upside can continue above 1200.
On sustained rise and close above 1200 expect the rise towards WRV-1215.
The lower top is at 1216.
The resistance will be at 1215-1216.
Support can be at 1172 and 1156.
Last week candle was indecisive therefore sustained move above or below the range 1198-1178 decides the next course of price movement on weekly chart.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
1184.00
|
1215.6
|
DOWN
|
1298.6
|
16.02
|
1155.3
|
1175.3
|
1186.7
|
1195.3
|
1215.3
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
1184.0
|
-0.5
|
11863.0
|
-8.9
|
5833.0
|
7.4
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
48.06
|
-2.17
|
85.22
|
25.62
|
-20.25
|
12.59
|
39.92
|
-20.81
|
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.