Report For Week Dated: 30/11/2015
NCDEX Kapas April’16 (Price are in INR (Rs)/20 Kg)
Cover short position at 860.5 or below as the opportunity arises.
Expect higher range of 868-893 to be tested.
Weakness can resume below 822.
Support cluster is at 853-844-822.
Sideways volatility is likely to be seen with the objective to test the DRV.
Therefore, traders can cover short position till 822 is not violated.
Use rise to DRV-875-869 zone to exit long if any.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
860.5
|
875.0
|
DOWN
|
839.0
|
13.11
|
820
|
844
|
853
|
869
|
893
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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/Deco
|
Candle
|
Position
|
|
860.5
|
1.6
|
20147
|
-20.5
|
13788
|
-2.4
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
47.04
|
7.64
|
17.66
|
-19.29
|
-8.72
|
4.57
|
46.46
|
103.57
|
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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