Report For Date: 05/01/2018
NCDEX Kapas April 2018 Weekly: Expect Higher Range
NCDEX Kapas April 2018 in Rs/20Kg
Traders long and holding the same can revise up the stop loss to 1016.
The stop loss is raised higher from 978 to 1016 with the objective to lock profits and cut loss for trader who enters long position at higher level.
Further rise will continue above 1064.
Traders can buy of trades above the Monday’s open and above 1064 with low of the week as the stop loss of 1016 whichever is lower.
Support will be at 1016-1010-978-962.
Resistance will be at 1058-1064 and 1106.
Last week was indecisive doji which suggest that next week’s movement is above or below last week high and low.
The high and low last week was 1016 and 1064.
The 61.8% retracement of the fall from 1161 to 847 has been tested which is at 1041.
The high last week was 1064 and closed at 1031.
For last 2 weeks the closing is below 61.8%.
The closing 2 week back was 1033 and last week was 1031.
Therefore, further rise is above 1064 closing.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
1031.00
|
969.22
|
UP
|
919.5
|
17.11
|
962
|
1010
|
1037
|
1058
|
1106
|
*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
|
985.5
|
-4.4
|
40383
|
23.1
|
8629
|
-22.0
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
72.07
|
-0.86
|
84.84
|
-7.70
|
21.44
|
33.06
|
83.26
|
1.87
|
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.