Report For Date: 06/04/2019
NCDEX Kapas April 2019 Weekly: Expect Higher Range To Be Tested
NCDEX Kapas April 2018 in Rs/20Kg
Traders long and holding the same can maintain the stop loss at 1174.
Accumulate at 1210-1188 with a stop loss of 1174.
Higher range for the week can be 1246-1303.
On sustained breakout and close above 1246 with bullish candle expect a rally to 1310.
Short covering is happening as Kapas price are running into the expiry of April 2019 contract.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
1224.5
|
1175.1
|
UP
|
1176.5
|
22.03
|
1131.2
|
1188.7
|
1210.3
|
1246.2
|
1303.7
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
|
1224.5
|
4.5
|
17874.0
|
10.1
|
8805.0
|
-14.7
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
63.29
|
18.72
|
87.46
|
1.07
|
-2.34
|
73.08
|
50.11
|
-2.06
|
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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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