Report For Date 28/05/2015
MCX Cotton Bales June: Lower Range Is To Cover Short Position
MCX Cotton Bales June: (Price in Rs/Per Bale)
Traders short and holding the same can keep the stop loss at 16400.
The swing bottom cluster at 15840-15750 is likely to offer support.
Buy on breakout above 16400 with low of the day stop loss alternatively sell on
rise to 16180-16280 with a stop loss of 16400.
Lower range of 16080-158980 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
|
16120.0
|
16335.4
|
DOWN
|
16390.0
|
19.05
|
15980
|
16080
|
16140
|
16180
|
16280
|
*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
|
|
16120.0
|
-0.1
|
31630.0
|
-71.2
|
6131
|
4.3
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
40.63
|
-1.30
|
46.84
|
58.37
|
-64.20
|
-28.51
|
32.93
|
-2.83
|
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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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