Report For Date 28/05/2015
NCDEX Kapas April 2016: Correction Halted For Time Being
NCDEX Kapas April 2016 in Rs/20Kg
Traders short can hold the same with a stop loss of 918.
Traders long can keep the stop loss at 897 and use rise to 914-921 to exit long position.
The last swing bottom was at 897 and the 38.2% retracement of the rise from 801 to 967 has been tested.
The 38.2% was at 905 and the low registered in last couple of days was 899.
The close yesterday was at 910.50.
Trend is still down therefore objective remains to exit long on the rise to resistance of 914-921 even if bottom fishing was suggested earlier at 905-897 zone.
Sell is below 897 with high of the day stop loss.
Swing bottom at 899 can be confirmed if closing is above 918 with bullish candle.
Correction appears to have halted and Kapas prices are waiting for next push of demand and supply to show directional movement henceforth.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
910.5
|
926.7
|
DOWN
|
925.0
|
21.05
|
899.3
|
906.8
|
910.7
|
914.3
|
921.8
|
*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
|
|
910.5
|
0.0
|
576.0
|
-69.9
|
2583
|
-0.8
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
40.87
|
0.00
|
22.52
|
43.78
|
-2.03
|
-135.69
|
24.58
|
-1.05
|
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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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