Report For Date 27/05/2015
MCX Cotton Bales June: Lower Range Is To Cover Short Position
MCX Cotton Bales June: (Price in Rs/Per Bale)
Support cluster is at lower range of 15953-15750.
Resistance is at higher range of 16177-16400.
Upside movement can resume on rise and close above 16400.
Addition of short position has been witnessed and trend shown is still down.
Trend shown is down as the closing is below the DRV.
Exit long and sell on rise to 16177-16363 with a stop loss of 16400.
Lower range of 15953-15750 is to cover short position.
If Cotton trades above the open and above 16400 then buy with low of the day stop loss or 16140 whichever is lower.
The swing band is likely to 15750 to 17140.
Currently near the lower side of the band unless decisive fall below 15750 is witnessed to continue the downside momentum.
Broadly, it looks that the movement will be oscillation just around the DRV.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
16140.0
|
16365.5
|
DOWN
|
16390.0
|
19.05
|
15543
|
15953
|
16177
|
16363
|
16773
|
*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
|
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
16140.0
|
-0.1
|
109650.0
|
68.1
|
5878
|
21.8
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
41.17
|
-0.61
|
29.58
|
75.00
|
-49.96
|
-51.22
|
33.89
|
-2.08
|
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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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