Report For Week Dated: 15/06/2015
NCDEX Kapas April’16 (Price are in INR (Rs)/20 Kg)
Traders long can hold the same with a stop loss of 893.
Correction and slide in price can seen if sustains below 893.
A rectangle has been formed to create a band of 893 to 967.
Fib-Fan lines are still holding which suggests that sideways consolidations till Fib-Fan line are not violated. Violation of Fib-Fan Lines would mean distribution.
If Kapas trades above the open of the week (Monday’s open) and trades above 925 then buy with low of the week as the stop loss or 913 whichever is lower.
Expect lower range of 905 or below to be tested before moving higher.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
913.5
|
902.7
|
UP
|
915.0
|
27.03
|
885.7
|
904.7
|
914.8
|
923.7
|
942.7
|
*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
|
% OI Inc/Deco
|
Candle
|
Position
|
913.5
|
0.3
|
6469.0
|
-28.9
|
2706
|
-1.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.92
|
1.02
|
31.32
|
2.40
|
7.93
|
-7.29
|
40.57
|
11.67
|
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.