Report For Date 5/2/2016
MCX Cotton Bales February: Cover Short Position
MCX Cotton Bales: (Price in Rs/Per Bale)
Cover short position at 16510 or below as the opportunity arises.
Support is at lower range of 16447-16337.
Resistance is at 16557-16580.
Sideways movement is being witnessed.
Oscillation around the DRV is being seen.
Traders short can maintain the stop loss at 16580.
Traders can buy if trades above the open and above 16580 with low of the day stop loss or 16510 whichever is lower.
Exit long till 16580 is not crossed.
Cover short position at lower range.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
16510.00
|
16539.48
|
DOWN
|
16510.0
|
4.02
|
16337
|
16447
|
16493
|
16557
|
16667
|
*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
|
16510.0
|
-0.4
|
45130
|
-31.6
|
7100
|
-3.1
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.64
|
-4.33
|
85.71
|
19.42
|
12.99
|
24.86
|
74.58
|
-6.41
|
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.