Report For Date 27/04/2015
NCDEX Kapas April 2016: Expect Higher Range To Be Tested
NCDEX Kapas April 2016 in Rs/20Kg
Traders long and holding the same can revised down the stop loss to 893.
Expect higher range of 940-957 to be tested.
The recent top has been at 950 and the same is likely to get tested.
Profit booking pressure around 950 could be seen.
Finally, a breakout and close above 950 will be required to extend the rally.
In the event of a breakout and close above 950 expect external retracement level of 982 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
932.5
|
900.3
|
UP
|
842.2
|
11.03
|
905.3
|
922.8
|
930.7
|
940.3
|
957.8
|
*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
|
|
932.5
|
1.084
|
1132
|
36.715
|
1205
|
24.7412
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
66.80
|
5.99
|
81.46
|
37.35
|
10.67
|
9.52
|
31.60
|
82.28
|
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Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
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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