Report For Date:17/02/2017
NCDEX Kapas April 2017: Higher Levels Attract Profit Booking
NCDEX Kapas April 2017 in Rs/20Kg
Traders long and holding the same can maintain the stop loss of 1014.
Expect higher range of 1026-1032 to be tested.
Bandwidth is falling therefore higher range can face resistance.
The recent peak was at 1041.
Therefore, further rally can continue if breakout and close above 1041 is witnessed.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
1022.5
|
1003.7
|
UP
|
1007.5
|
17.01
|
1014.0
|
1020.0
|
1023.5
|
1026.0
|
1032.0
|
*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
|
|
1022.5
|
-0.1
|
2905
|
-34.8
|
11840
|
-2.0
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
57.46
|
-0.96
|
40.65
|
-16.91
|
9.65
|
-4.29
|
73.63
|
1.70
|
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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