Report For Date: 28/11/2016
MCX Cotton Bales December: Further Rise Is Above 19470
MCX Cotton Bales: (Price in Rs/Per Bale)
Traders long and holding the same need to maintain the stop loss at 18600.
Weaker opening and correction to 18797 or below can be for accumulation with a stop loss of 18600.
Resistance will be at 19133-19357.
Further rise can be witnessed above 19470.
Traders can buy above 19470 with low of the week as the stop loss or 19020 whichever is lower.
TREND INFORMATION WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
19020.00
|
19342.06
|
DOWN
|
19020.0
|
25.11
|
18237
|
18797
|
19133
|
19357
|
19917
|
*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
|
19020.00
|
-1.8
|
193440
|
25.0
|
4681
|
-7.3
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
58.44
|
8.98
|
80.29
|
7.05
|
5.30
|
34.72
|
55.45
|
16.36
|
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.