Report For Date 24/04/2015
MCX Cotton Bales May: Expect Higher Range To Be Tested
MCX Cotton Bales May: (Price in Rs/Per Bale)
Open interest increased with the rise and positive candle which indicates addition of long position.
Expect higher range of 16217-16547 to be tested.
The recent top was at 16460 and the same is likely to be tested with volatility.
Weaker opening and correction to 16043-15887 can be used for buying with a stop loss of 15520.
TREND INFORMATION WITH INTRA-DAY LEVELS
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STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
16060
|
15779
|
UP
|
15870
|
22.04
|
15557
|
15887
|
16043
|
16217
|
16547
|
*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
|
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
16060
|
1.1972
|
80380
|
51.8609
|
5908
|
6.1254
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
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RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
58.15
|
10.68
|
57.40
|
65.14
|
40.55
|
62.31
|
20.39
|
-7.13
|
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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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