Report For Date: 18/02/2019
NCDEX Kapas April 2018 in Rs/20Kg
Traders short and holding the same can maintain the stop loss at 1157.
Resistance will be at 1133-1140-1157.
Lower range for the week can be 1124-1107.
Downside momentum will continue below 1120.
Sell on fall below 1120 with high of the week as the stop loss or 1131 whichever is higher at the point of breakdown below 1120.
At the end of the week if prices are above 1157 then enter long position.
Check on Friday towards the closing.
The trend has been down on weekly chart since the closing on 16.02.18 at 1298. Since then closing has been below the WRV and prices broadly have been falling with minor volatility.
Positional traders managing to hold on the short position as the trend turned down had the opportunity to benefit.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
1131.00
|
1179.64
|
DOWN
|
1298.58
|
16.02
|
1107
|
1124
|
1133
|
1140
|
1157
|
*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
|
1131.0
|
-0.2
|
9703.0
|
-11.9
|
13588.0
|
3.8
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
41.21
|
-1.15
|
37.34
|
1.95
|
-15.70
|
-2.82
|
37.72
|
-5.87
|
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.