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Cottoncandy

Cottoncandy prices rose by 0.79% to settle at 56,050, driven by concerns over India'sdeclining cotton production for the 2024/25 season, forecasted to fall by 7.4% to 30.2 millionbales due to lower acreage and crop damage from excessive rains. The USDA revised itsprojection for India, lowering production to 30.72 million bales and cutting ending stocks to12.38 million bales. Global cotton production estimates rose slightly, with increases in China,Brazil, and Argentina offsetting reductions in the U.S. and Spain. Acreage in India’s currentkharif season declined by 9%, totaling 110.49 lakh hectares compared to 121.24 lakhhectares the previous year. The reduction in planted area is mainly due to a shift towardgroundnuts, particularly in Gujarat, driven by better returns. India’s cotton exports areexpected to decrease to 1.8 million bales from 2.85 million a year ago, while imports mayrise to 2.5 million bales. Domestic demand is projected to remain stable at 31.3 million bales.In the U.S., cotton production was lowered by over 300,000 bales to 14.2 million due todamage from Hurricane Helene, while exports were reduced by 300,000 bales to 11.5million in response to weaker global import demand. World trade forecasts were reviseddown, primarily due to a reduction in China’s imports, while global ending stocks wereslightly reduced to 76.3 million bales. Technically, the cottoncandy market is in a freshbuying phase with open interest rising by 2.44% to 168 as prices gained by 440 rupees.Support is at 55,860, with further support at 55,670, while resistance is expected at 56,200,with a potential move above this level leading prices to test 56,350

BUY COTTONCANDY NOV @ 55800 SL 55500 TGT 56200-56600. MCX

Cocudakl

BUY COCUDAKL DEC @ 2950 SL 2900 TGT 3000-3040. NCDEX

Kapas

BUY KAPAS APR @ 1565 SL 1550 TGT 1580-1590. NCDEX