Report For Date: 14/03/2018
NCDEX Kapas April 2018: Further Rise Is Above 966
NCDEX Kapas April 2018 in Rs/20Kg
Traders long and holding the same can maintain the stop loss at 938.
Further rise is above 966 closing.
Weaker opening and correction first to 942.3 or below can be used for accumulation with a stop loss of 938.
Resistance is at higher range of 951.3-960.30.
Higher level of 951.3-960.3 will face resistance therefore traders can take profits and re-enter long if close is above 967.
Sideways movement will continue for near term along with oscillation around the DRV-953.76.
Correction can end if close is above 966 with bullish candle.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
947.00
|
953.76
|
DOWN
|
947.5
|
12.03
|
933.3
|
942.3
|
946.7
|
951.3
|
960.3
|
*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
|
|
947.0
|
-0.1
|
2308
|
-29.4
|
6941
|
-4.3
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
46.75
|
-0.47
|
50.00
|
-21.30
|
-5.00
|
6.15
|
53.11
|
1.45
|
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Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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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