Report For Date: 20/11/2017
MCX Cotton Bales: (Price in Rs/Per Bale)
Addition of long position has been witnessed.
Expect a rise towards 18580-18900.
Cover short position at 18470 or below as the opportunity arises.
Bandwidth is falling which suggest that contraction of movement is likely in near term.
First objective is to cover short position as a result of bullish candle.
Weakness can be restored below 18100.
TREND INFORMATION WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover short
|
18470.00
|
18819.99
|
DOWN
|
18120.0
|
15.09
|
17940
|
18260
|
18370
|
18580
|
18900
|
*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
|
|
18470.0
|
1.7
|
97440
|
15.5
|
4616
|
16.9
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
45.62
|
11.35
|
43.88
|
32.87
|
-391.03
|
9.84
|
57.14
|
15.47
|
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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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