Report For Date: 13/04/2019
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders long and holding the same can maintain the stop loss at 21800.
Resistance will be at 22579-23220.
Support can be at 21920-21500.
A sustained breakout and close above 22570 will be required with bullish candle at the end of the to extend the rally toward the lower top of 23300 and 24280.
Initially, expect profit booking pressure at higher range of 22570-23200.
Objective can be to take profits if long at higher range of 22570-23200 and address the issue next week to hold further or seek re-entry.
TREND INFORMATION WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
22260.00
|
21474.29
|
UP
|
21360.00
|
22.03
|
21270
|
21920
|
22230
|
22570
|
23220
|
*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
|
Close
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
22260.0
|
-0.4
|
565230.0
|
3.2
|
12523.0
|
-18.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
59.42
|
-1.67
|
95.77
|
-2.77
|
-24.98
|
77.31
|
42.16
|
-11.04
|
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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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