MCX Cotton Bales Weekly C1: Expect Higher Range To Be Tested

Report For Week Dated: 30/03/2015

MCX Cotton Bales Weekly C1 (Price are in INR (Rs)/Bales)

Addition of long position was seen as open interest increased with the rise and positive candle.

Indicators moved up which suggest that higher range of 15789-16330 can be tested.

Trend shown is down because price is below the DRV.

A contrarian buy situation has developed which suggest that near term rise to DRV and 15780-16330 may be tested.

Therefore, cover short position at 15570 or below.

Weakness can be restored if fall and close below 14910 is witnessed.

The moment for last few weeks appears to be of consolidation therefore higher range could be tested.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Cover Short	15570.00	15874.16	DOWN	20070	16.05	14680	15230	15440	15780	16330

*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly closing stop loss of DRV: Close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close	Price G/L%	Volume	% V Inc/Dec	Open Interest	% O Inc/Dec	Candle	Strategy
15570.00	2.91	350740	181.83	7546.00	67.95	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
46.42	18.26	59.22	36.87	-455.13	12.00	58.83	18.82

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.