MCX Cotton Bales Weekly: Expect Higher Range To Be Tested

Report For Week Dated: 4/05/2015

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

Weaker opening and correction to 16693-16327 can be used for buying with a stop loss of 15500.

Expect higher range of 17137-17947 to be tested.

The breakout above 16280 has been witnessed which has target implication of 17617 at least and may scale to 19680 if the momentum survives.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	16770	15981	UP	16370	24.04	15517	16327	16693	17137	17947

*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
16770	2.44	330690	30.8057	2453	-60.76	Positive	Unwinding

TECHNICAL INDICATORS TABLE

	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
59.94	6.83	73	2.20	-85.83	53.55	50.33	33.44

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.