Cotton Seed trades up on fresh buying

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AHMEDABAD (Commodity Online): After witnessing some fresh buying sentiments in last couple of trading sessions, Cotton Seed Prices at NCDEX, April contract trades firm in today’s trading session and continues up side momentum.

It is trading in the range of 1351-1383 per quintal in today’s trading session till now.Cotton Seed prices trading at NCDEX, April contract is having strong support at 1335 level.

Cotton Seed prices trading at NCDEX, April contract is having resistance at 1393 level and trading above that it likely to touch 1425 level.

Technically, 14 days RSI on Daily chart at 67 indicates upside trend.Good volume and open intrest with rising price likely to support the up trend in near term.

“Traders should look for the opportunity to buy near 1360 level”, said Milan Shah, Commodity Analyst with Commodity Online.

Source: http://www.commodityonline.com/futures-trading/market/Cotton-Seed-trades-up-on-fresh-buying-27689.html

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