NCDEX Kapas April’16 Weekly: Consolidation To Happen

Report For Week Dated: 20/04/2015

NCDEX Kapas April’16 (Price are in INR (Rs)/20 Kg)

Minor correction to 901-880 can be seen.

Consolidation band can be 854 and 954 for some time.

Lower range of 901-850 can be correction and consolidation phase for Kapas April 2016 adjusted weekly chart.

Further rally can be seen on breakout and close above 950.

Consolidation would also mean choppy movement alongside the weekly DRV of 890.

Traders long can take profits or exit long till 954 is not crossed.

Buy on breakout and close above 954.

Correction to 893-890 or below can be for accumulation with a stop loss of 850.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.