NCDEX Cotton seed gain on strong buying


AHMEDABAD (Commodity Online): Cottonseed oil prices were up in Delhi on positive trading as well as strong demand.
“Fundamentally, Cotton seed can gain further on positive demand in next coming days,” said Anil Patadia, commodity analyst with Commodity Online.
Cotton seed January contract opened at 1102, up by Rs 7 per 50kg compare to previous close this morning on NCDEX. It made high of 1131 during trading session. In Gujarat, arrivals will start soon coming in the markets, sources said. It is expected that in spot market, prices may show a significant gain as supply is less than demand these days.
“One can buy Cottonseed February contract near 1090 with stop loss of 1051 for target of 1230,”Patadia added.