Report For Week Dated: 25/05/2015
NCDEX Kapas April’16 (Price are in INR (Rs)/20 Kg)
Exit long on rise from 915 to 967 as correction is in progress of the last rally from 801 to 967.
The retracement levels are placed at 901, 885 and 863.
The DRV is around 901.90.
Cluster of support is around the DRV and the last higher bottom is at 897.
Cluster of support range is 901-893.
Addition of short position has been witnessed as open interest increased with the fall and negative candle.
Trend is up as a result of the closing above the DRV but correction within the uptrend is in progress.
Contrarian sell position has been witnessed as correction within up trend is in progress.
Expect lower range of 902.3-865.3 to be tested.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
915.0
|
901.9
|
UP
|
915.0
|
27.03
|
865.8
|
902.3
|
926.2
|
938.8
|
975.3
|
*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
|
|
915.0
|
-2.5
|
6000.0
|
15.4
|
3085.0
|
25.8
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
52.87
|
-9.40
|
49.52
|
-28.56
|
8.48
|
-2.87
|
28.64
|
-20.54
|
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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