We generalize the Morton-Franks-Williams inequality [3,14] to the colored sl(N ) link homology defined in [30], which gives infinitely many new bounds for the braid index and the self linking number. A key ingredient of our proof is a composition product for the general MOY graph polynomial, which generalizes that of Wagner [27].2000 Mathematics Subject Classification. Primary 57M25. Key words and phrases. braid index, self linking number, Morton-Franks-Williams inequality, Khovanov-Rozansky homology, Reshetikhin-Turaev invariant, colored sl(N ) link homology.