NCDEX Kapas April 2019 Weekly: Further Weakness Is Below 1123

Report For Date: 21/01/2019

NCDEX Kapas April 2018 in Rs/20Kg


Cover short position at 1147 or below.

Expect higher range of 1161-1193 to be tested.

Open interest increased with the rise and positive candle which indicates addition of long position.

The price has been towards the lower end of the swing.

Further weakness is below 1123.

Traders can cover short position till 1123 is not violated.

Reversal could near term pullback can be happening if sustains above 1164 with bullish candle at the end of the week.

Traders short and holding the same can maintain the stop loss at 1164.

Sell is below 1123 with high of the week as the stop loss or 1147 whichever is higher.


TREND INFORMATION WITH WEEKLY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.