Report For Date: 25/02/2019
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders short and holding the same can maintain the stop loss at 21030.
Further correction is below 20200.
Weakness is below 20200.
Sell is below 20200 with high of the week as the stop loss or 20500 whichever is higher.
Subsequently a slide towards 19660-19120 can be witnessed.
Reversal can happen now if sustains above 21030.
If Cotton prices sustains above the weekly open and above 21030 then expect near term reversal to test WRV-21553.
TREND INFORMATION WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
20500.00
|
21553.6
|
DOWN
|
21750.0
|
23.11
|
19540
|
20200
|
20560
|
20860
|
21520
|
*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
|
|
20500.00
|
0.4
|
452310.0
|
148.9
|
10835.0
|
95.0
|
Indecisive
|
Addition Long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
37.73
|
3.05
|
20.28
|
-25.54
|
-396.99
|
-7.31
|
35.85
|
35.16
|
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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.
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