Report For Date 25/05/2015
NCDEX Kapas April 2016: Expect Near Term Correction
NCDEX Kapas April 2016 in Rs/20Kg
Traders short can hold the same with a stop loss of 930.
Correction and retracement of the rise from 801 to 967 could be in progress.
Another fall and close below 921 will confirm the larger correction of the rise from 801 to 967.
The 38.2% retracement is at 905.
The Fibonacci Fan Line and Retracement intersection with 38.2% is on 28/05/2015.
Traders can exit long and sell on rise to 925-929-938 with a stop loss of 942.
Expect lower range of 909-893 to be tested.
The last swing higher bottom was at 897.
The demand zone is at 905-897.
Lower range can be used to cover short position.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
915.0
|
932.5
|
DOWN
|
925.0
|
21.05
|
893.2
|
909.2
|
919.3
|
925.2
|
941.2
|
*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
|
915.0
|
-1.1
|
1461.0
|
-2.2
|
3085.0
|
7.1
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
41.63
|
-10.09
|
13.04
|
-26.09
|
3.01
|
-40.73
|
18.00
|
-19.99
|
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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