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NCDEX Kapas April 2019: Resistance At Higher Range

12 Feb 2019 10:04 am
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Report For Date: 12/02/2019

NCDEX Kapas April 2019 in Rs/20Kg

Cover short position at 1138.5 or below.


Resistance will be at 1142-1149.

Lower range can be 1135-1128.

Trend line breakout can be seen if sustains above 1142 on closing with bullish candle.

Sideways movement at current level cannot be ruled out till decisive breakout and close above 1142 is not witnessed.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

1138.50

1147.93

DOWN

1191.50

17.12

1128

1135

1139

1142

1149


*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 closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a 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/Dec

Candle

Position

1138.5

0.4

1909

34.1

13350

2.0

Positive

Addition Long


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

46.69

9.57

65.00

42.64

-4.75

9.11

62.36

15.15


Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.

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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