NCDEX Kapas April 2016: Cover Short Position To Take Profits
NCDEX Kapas April 2016 in Rs/20Kg
Addition of long position has been witnessed in the down trend and in the oversold zone on indicators.
Further weakness will continue below 854.
Cover short position and take profits till 854 is not violated.
Sell on fall below 854 with high of the day stop loss or 865 whichever is higher.
If Kapas trades above the open and above 865 then expect intra-day rise to 868-878.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
863.5
895.7
DOWN
912.0
17.07
845.7
856.7
860.8
867.7
878.7
*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
863.5
0.2
1794
-44.9
2924
0.7
Positive
Addition Long
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
25.28
5.47
12.98
41.38
-9.44
-28.47
20.26
-5.21
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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