Report For Date: 21/01/2019
MCX Cotton Bales: (Price in Rs/Per Bale)
Cover short position at 20920 or below.
Further weakness is below 20300 which is the last current falling phase swing bottom.
Reversal is above 21280 for pullback towards WRV-21588.
Sell is below 20300 or cover short position till 20300 is not violated.
Traders short and holding the same can maintain the stop loss at 21280.
TREND INFORMATION WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
20920.0
|
21588.0
|
DOWN
|
21750.0
|
23.11
|
20090.0
|
20610.0
|
20820.0
|
21130.0
|
21650.0
|
*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
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
20920.0
|
1.2
|
237030.0
|
2.3
|
6343.0
|
-18.4
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
41.85
|
6.79
|
31.11
|
21.20
|
-314.29
|
-8.01
|
27.40
|
-3.97
|
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.