MCX Cotton Bales July: Further Rise Is Above 19840

Report For Date: 21/06/2016

MCX Cotton Bales July: Further Rise Is Above 19840

MCX Cotton Bales: (Price in Rs/Per Bale)

Traders by chance long and holding the same can maintain the stop loss at 19120.

Traders can buy above 19840 with low of the day stop loss or 19490 whichever is lower at the point of breakout.

Expect lower range of 19380-19070 to be tested first before moving higher.

Correction to DRV 19047 or below can be used for buying with a stop loss of 18890.

TREND INFORMATION WITH INTRA-DAY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.