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NCDEX Kapas April 2019 Weekly: Further rise is above 1232

20 Apr 2019 3:09 pm
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Report For Date: 22/04/2019

NCDEX Kapas April 2018 in Rs/20Kg


Traders long and holding the same can maintain the stop loss at 1174.

Weaker opening and correction first to 1192 or below can be used for accumulation with a stop loss of 1174.

Resistance will be at 1208-1219.

Further rise is above 1232.

Traders can buy above 1232 with low of the week as the stop loss or 1197 whichever is lower at the point of rise above 1232.



TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

1203.50

1181.35

UP

1176.5

22.03

1165.3

1192.3

1208.2

1219.3

1246.3


*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

1203.5

-1.1

4585.0

-66.2

5337.0

-16.8

Negative

Unwinding

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

57.77

-5.55

82.72

-5.02

4.56

119.08

54.33

30.06



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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