MCX Cotton Bales Weekly C2 (Price are in INR (Rs)/Bales)
Cover short position at 15440 or below.
Expect higher range of 15630-16110 to be tested.
Pullback towards DRV 15965 could be seen.
Higher range for the week can be 15630-16110.
Weakness will be seen below 14990.
Sell on fall below 14990 with high of the week stop loss or 15480 whichever is higher.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Cover short
|
15440.00
|
15965.38
|
DOWN
|
20070
|
16.05
|
14670
|
15150
|
15340
|
15630
|
16110
|
*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
|
15440.00
|
1.38
|
280040
|
49.25
|
3693.00
|
-29.04
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
42.22
|
8.33
|
79.95
|
28.09
|
-608.91
|
8.86
|
68.56
|
10.21
|
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.