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Cotton Seed may collapse today on account of profit-booking in the market.
Cotton Seed June contract opened at Rs 1090. It made a low of 1081 and a high at 1095 on NCDEX till 12.45 pm on Thursday.
“Technically Cotton Seed is expected to go down in next few days, one can make short position around 1085 and can expect below 1070 within a week,” said Sudarshan Goel, Commodity Analyst with Commodity Online.
“Fundamentally, Cotton Seed is strong in the long run on account of limited supply. One can make buy positions for long run,” said Goel.
03 June, 2010 by admin