Cotton Seed Cake (Cocudakl) December expiry is trading at a string support line which has been tested twice before in last 3 years. With Some simple logic it is trading in a upside channel as you could notice in the attached graph. Currenctly it is at the downside line or you may say at the best possible price to enter. Indicators on daily charts are totally oversold and its trading below all the short term averages. For Short Term traders its clear buy at CMP of 1449 tgts 1463/1488/1513 with sl of 1428 where as for Long term investors also its a buy but with larger SL of 1414 as the weekly charts havent been strong bullers yet. For trading tips on commodities follow us at @chartechnician on twitter and Facebook page Chartechnician
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