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Stock Cash : BUY DBL ABOVE 720 TARGET 727 743.4 SL BELOW 711 CMP 717 SEQUENT HIGH 79.40
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Options – Call and Put : BUY AUROBINDO PHARMA LTD MAR Call 760 ABOVE 37 TARGET 38.5 40.5 44 SL BELOW 34.5 CMP 36.50
MCX cotton closed higher on Monday on reports of export demand coming from China.
India has already shipped around 600,000 bales to China so far in the 2018/19 marketing year that started on Oct. 1.
In a recent development, Indian traders have signed contracts to ship 800,000 bales of cotton to China as demand surged from the world’s biggest consumer due to a rally in prices in China. Cotton prices have improved since last one month on reports of lower production.
In 2018/19, production of Cotton is estimated at 300.9 l-bales (of 170 kg each), down about 7.4% compared to previous estimate of 324 l-bales as per latest government advance estimates.