Report For Date 26/05/2015
NCDEX Kapas April 2016: Further Correction Is Below 897 Closing
NCDEX Kapas April 2016 in Rs/20Kg
Traders short can hold the same with a stop loss of 915.
Correction and retracement of the rise from 801 to 967 could be in progress.
The 38.2% retracement is at 905.
The last swing higher bottom was at 897.
The low registered yesterday was 899 and closed at 905.50.
The Fibonacci Fan Line and Retracement intersection with 38.2% is on 28/05/2015.
The demand zone is at 905-897.
Lower range can be used to cover short position.
Further weakness and correction can continue on fall and close below 897.
Cover short position at 905-897.
Sell if Kapas trades below the open and below 897 with high of the day stop loss or 906 whichever is higher at the point of breakdown.
The 50% retracement level is at 884.
If sustains below 897 on closing then expect 884 to be tested.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
905.5
|
929.8
|
DOWN
|
925.0
|
21.05
|
883.3
|
898.3
|
906.2
|
913.3
|
928.3
|
*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
|
905.5
|
-1.0
|
1877.0
|
28.5
|
2993.0
|
-3.0
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
37.74
|
-9.35
|
10.91
|
-16.36
|
0.64
|
-78.84
|
17.80
|
-1.13
|
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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