NCDEX Kapas April: Sideways Movement Is In Progress
NCDEX Kapas April in Rs/20Kg
Sideways movement around the DRV is being witnessed.
Exit long and sell on rise from 747-749.7 with a stop loss of 755.
Expect lower range of 744.7-739.7 to be tested.
Buy above 755 with low of the day stop loss or 747 whichever is lower.
Oscillation around the DRV and Sideways Movement is in progress.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Exit long
747.00
752.18
DOWN
747
3.03
739.7
744.7
747.3
749.7
754.7
*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
747.00
-0.73
2064
-23.41
10240.00
0.28
Negative
Addition Short
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
46.97
-5.95
50.00
-25.26
-1.24
-24.36
47.69
-15.94
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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