Report For Date 31/03/2015
MCX Cotton Bales April: Book Profits At Higher Range
MCX Cotton Bales April: (Price in Rs/Per Bale)
Hold long position with a stop loss of 15500.
Expect higher range of 15607-15713-15973 to be tested.
The lower top is at 15700. A rise above 15700 was witnessed but close lower at 15560.
An upper shadow at higher range is created which shows resistance and supply at higher range.
Till the yesterday high of 15760 is not crossed on closing, bias remains to take profits.
A breakout and close above 15760 can lead to a further rally.
Subsequently a rise towards 16200 can be expected 16200.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold long
|
15560.00
|
15304.28
|
UP
|
15490
|
23.03
|
15193
|
15453
|
15607
|
15713
|
15973
|
*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
|
|
15560.00
|
-0.06
|
73900
|
-1.64
|
7739.00
|
2.56
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
59.11
|
-0.75
|
77.50
|
-8.46
|
45.19
|
42.88
|
43.84
|
-19.59
|
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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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