Report For Week Dated: 18/05/2015
NCDEX Kapas April’16 (Price are in INR (Rs)/20 Kg)
Traders by chance long and holding the same can keep the stop loss at 893.
Resistance is at 946-967.
Further rally can be seen on breakout and close above 967.
Traders can buy above 967 with low of the week as the stop loss or 942 whichever is lower.
Expect lower range of 931 or below to be tested before moving higher.
Lower level of 931 or below can be used for accumulation with a stop loss of 893.
In the event of a breakout and close above 967, expect a rally towards 1000 at least.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
938.0
|
901.1
|
UP
|
915
|
27.03
|
912
|
931
|
942
|
949
|
968
|
*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
|
|
938
|
-0.42
|
5199
|
-25.27
|
2453
|
4.07
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
58.36
|
-1.68
|
69.32
|
-10.25
|
8.73
|
29.71
|
36.04
|
-13.07
|
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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