NCDEX Kapas April 2017: Further Weakness Is Below 881

NCDEX Kapas April 2017: Further Weakness Is Below 881

NCDEX Kapas April 2017 in Rs/20Kg

Sideways volatility and oscillation around DRV is likely to happen.

Addition of long position which suggest that higher range can be tested.

DRV is flat and horizontal which suggest sideways movement.

Cover short position if any at 896 or below as the opportunity arises.

Expect higher range of 901-916 to be tested.

Weakness is below 881.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	895.5	889.0	UP	889.5	20.05	872.7	887.2	893.3	901.7	916.2

*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
895.5	0.7	1962	197.3	2048	7.0	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
51.90	7.75	69.06	-0.99	-3.19	21.36	57.42	16.28

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.