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MCX Cotton Bales March: Further Rise Is Above 21090

17 Feb 2017 9:46 am
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Report For Date: 17/02/2017

MCX Cotton Bales March: Further Rise Is Above 21090

MCX Cotton Bales: (Price in Rs/Per Bale)

Traders by chance long can keep the stop loss at 20800.

Further rise is above 21090.

Traders can take profits on rise to 20933-21043.
Re-enter long on rise and close above 21090.

Traders can buy above 21090 with low of the day stop loss or 20870 whichever is lower.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

20870.00

20568.43

UP

20290.0

17.01

20713

20823

20887

20933

21043



*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

Close

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

20870.0

-0.1

28650

-10.1

7863

3.7

Indecisive

Addition long/Short


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

59.98

-1.50

36.56

-28.88

181.50

-5.21

69.26

1.91






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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