Report For Week Dated: 15/06/2015
MCX Cotton Bales Weekly (Price are in INR (Rs)/Bales)
Further weakness will be seen below 15430.
Expect movement to be between 15430 and 16890 for some time.
Trend is up as closing is above the DRV.
Correction to 15903 or below can be for accumulation with a stop loss of 15430.
Resistance is at 16363-16823.
Breakout and close above 16890 can show a rally.
Higher range of 16157-16363 can be used to exit long till 16890 is not crossed.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
16110.0
|
15903.8
|
UP
|
16520.0
|
29.05
|
15443
|
15903
|
16157
|
16363
|
16823
|
*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
|
|
16110.0
|
-0.8
|
140260.0
|
-34.2
|
5938
|
-13.3
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.71
|
-2.81
|
61.72
|
19.17
|
51.91
|
14.68
|
44.28
|
-0.74
|
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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