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Technical analysis of NCDEX cottonseed oilcake continuous futures recommends a short position near ₹2,690 with a target of ₹2,450. The contract has lost about 14% year-to-date after failing at the ₹2,835 resistance level, and open interest has fallen as longs unwind.
This is chart-based commentary on an Indian domestic contract with no new supply or demand event, so it has little bearing on physical feed meal prices.
thehindubusinessline.comAkhil Nallamuthu, BL Research BureauNov 21, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
