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NCDEX Kapas April 2018 Weekly: Movement In A Wider Sideways Band

9 Oct 2017 12:34 pm
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Report For Date: 09/10/2017


NCDEX Kapas April 2018 Weekly: Movement In A Wider Sideways Band

NCDEX Kapas April 2018 in Rs/20Kg

Traders short and holding the same can maintain the stop loss at 879.

Sideways movement in the band of 847 to 913 is being witnessed since June 2017 to till date.

Base and support is at 862-847.

Resistance is at 902-913.

Pullback within the sideways down trend can be seen above 879 closing.

Cover short position if any at 872-847 range as the opportunity arises.

Contraction of movement is being witnessed as Bandwidth is falling.

Directional movement currently not being witnessed but rise towards higher range of 896 may be possible if breakout and close above 879 is witnessed.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Short 872.00 914.37 DOWN 1035.50 7.04 846.8 863.3 871.2 879.8 896.3

*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
872.0 0.2 10198 -28.8 6927 -2.2 Indecisive Unwinding


TECHNICAL INDICATORS TABLE

RSI 1-ROC-RSI STOCHASTIC 1-ROC- STOCHASTIC MACD 1-ROC MACD RS 1-ROC RS
40.42 1.08 32.89 -1.65 -27.42 5.28 44.52 2.69








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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