Indian Ncdex Market Trading Ideas by RipplesAdvisory
Cotton on MCX settled down by -1.18% at 19300 after government estimated higher production estimates for 2016-17. Buying activities are subdued in physical market while export demand is also negligible at current time which may weigh on cotton prices. In the meanwhile, ongoing border tension between India and Pakistan put pressure on Indian cotton prices as talks on withdrawal of Most Favoured Nation (MFN) status to Pakistan may affect export supply adversely as Pakistan emerged as one of the major Indian cotton importer in recent years. Despite lower area coverage, higher productivity of Cotton has resulted in to higher production of 32.12 million bales (of 170 kg each) as compared to 30.15 million bales during 2015-16, government data showed.
Read more Live Equity market tips,free day trails,stock Market News at: http://ripplesadvisory.com/free-trial.php or G2et Free Trials Just Give One Missed Call .98-27-80-80-90.
Also, The Cotton Association of India (CAI) retained August estimate of the cotton crop for the 2016-17 at 33.6 million bales that is at the same level as in the last month. India's cotton production estimates for 2016-17 stood at 33.6 million bales as compared to 33.7 million bales last year.
Trading Ideas
1. Cotton trading range for the day is 19173-19513.2.Cotton prices ended with losses after government estimated higher production estimates for 2016-17.3.Despite lower area coverage, higher productivity of Cotton has resulted in to higher production of 32.12 million bales.
4.Cotton prices in spot market dropped by 580.00 rupees and settled at 21630.00 rupees.
Trading Ideas
1. Cotton trading range for the day is 19173-19513.2.Cotton prices ended with losses after government estimated higher production estimates for 2016-17.3.Despite lower area coverage, higher productivity of Cotton has resulted in to higher production of 32.12 million bales.
4.Cotton prices in spot market dropped by 580.00 rupees and settled at 21630.00 rupees.
0 comments
Note: only a member of this blog may post a comment.