Login ID:
Password:
Partner Login
Contact Us : 7066511911

Ny Cot Exchange Cotton No.2 March 2017 Weekly: Accumulate At Lower Level

4 Dec 2017 10:19 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

REPORT For Date 01/12/2017

Ny Cot Exchange Cotton No.2 March 2017 Weekly: Accumulate At Lower Level


NY COT EXCHANGE Cotton No.2 (Price figures in cent/5000lbs):

Trend line breakout has been witnessed.

Expect a near term rally to test the last lower top peak of 75.75.

The supply zone can be in the range of 74.59-75.75.

Higher range for the week can be 74.16-76.62.

Support will be at 72.58-71.70-71.

Weaker opening and correction first to 72.58-71.70 can be used for buying with a stop loss of 71.

Bandwidth is moving up as shown in the chart which suggests that higher price can be witnessed with volatility.

Stochastic is in overbought zone which mean that higher resistance and supply zone of 74.59-75.75 can attract profit booking.

Trend and momentum is up therefore expect 74.16-76.72 to be tested and higher range of 74.59-75.75 can be used to take profits.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

73.28

70.24

UP

71.9

23.11

69.24

71.70

72.58

74.16

76.62


*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Close

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

73.3

1.9

88502

-21.1

-

-

Positive

-



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

60.25

5.08

91.48

12.00

0.32

965.03

64.52

-5.12






Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.

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.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Top 5 Special Reports
Technical: Jeera Unjha : Expect Slide Towards 14,000 Wi...
Technical: Dhaniya : Accumulate At Retracement
Technical: Turmeric Nizamabad: Recovery Needs To Happen...
Technical: Guargum Jodhpur: Correction For Near Term In...
Technical: Guarseed Bikaner: Support Likely At Current ...
Copyright © CC Commodity Info Services LLP. All rights reserved.