Thursday, 16 March 2017

Cotton News

Cotton on MCX settled up by 1.19% at 21310 on late short covering after prices dropped due to weak demand from traders and stockists at the spot market. Besides, improved supplies from major producing belts also influenced cotton. Lower prices have attracted good export order from Bangladesh and Vietnam, whereas large quantity of cotton is expected to export to Australia.

Trading Ideas:

*Cotton trading range for the day is 20850-21570.

*Cotton prices ended with gains on late short covering after prices dropped due to weak demand from traders and stockists at the spot market.

*Cotton prices in spot market dropped by 100.00 rupees and settled at 20630.00 rupees.

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