Report For Date 26/06/2015
MCX Cotton Bales July: Cover Short Position
MCX Cotton Bales July: (Price in Rs/Per Bale)
Cover short position at 15800 or below.
Addition of long position has been witnessed in a down trend which suggests that near term halt to the fall could be seen.
Swing bottom has happen on bias theory but the same can be confirmed if sustains above 15860.
Recent low in last 2 days was with volume which suggests that further weakness can be seen below 15670.
Pullback towards DRV of 16191 could be witnessed.
Sell is below 15670 with high of the day stop loss.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
15800.0
|
16191.6
|
DOWN
|
16410.0
|
5.06
|
15570
|
15720
|
15790
|
15870
|
16020
|
*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
|
|
15800.0
|
0.4
|
36880
|
-21.4
|
4988
|
12.5
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
34.72
|
10.76
|
16.33
|
2.72
|
-180.63
|
-3.81
|
47.85
|
2.96
|
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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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