Buy Cottoncandy Jan @ 56000 SL 55800 TGT 56300-56500. MCX - Kedia Advisory
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Cotton prices, represented by Cottoncandy, experienced a marginal decline of -0.04%, settling at 56160, driven by profit booking following earlier gains. The Cotton Association of India (CAI) maintained its pressing estimate for the 2023-24 season at 294.10 lakh bales, contributing to market sentiment. Total supply till the end of November was estimated at 92.05 lakh bales, consisting of market arrivals, imports, and opening stocks. Reports of a decline in pink bollworm infestation in the cotton crop brought relief, decreasing from 30.62% in 2017-18 to 10.80% in 2022-23. Infestation was observed across cotton-growing areas in the north, central, and south zones of the country. Certified cotton stocks for delivery against contracts dropped significantly, reaching 6,325 bales on December 5th from their highest level in over two years at 87,770 bales on December 1st. Brazilian cotton shipments increased by 12% in November compared to October 2023 but decreased by 5.5% compared to November 2022. The International Cotton Advisory Committee (ICAC) projected that global cotton production would surpass consumption for the second consecutive year. Global cotton lint production is expected to grow by 3.25% to 25.4 million metric tons in the 2023-24 season, while consumption is forecasted to marginally decline to 23.4 million metric tons. In Rajkot, a major spot market, Cottoncandy prices ended at 26429.95 Rupees, reflecting a decline of -0.27%. Technically, the market observed long liquidation, with no change in open interest, settling at 209. Cottoncandy is currently finding support at 56020, and a breach below could test 55870 levels. Resistance is anticipated at 56300, and a move above could lead to a test of 56430.
BUY COTTONCANDY JAN @ 56000 SL 55800 TGT 56300-56500. MCX
SELL COCUDAKL JAN @ 2750 SL 2790 TGT 2700-2660. NCDEX
BUY KAPAS APR @ 1540 SL 1530 TGT 1560-1580. NCDEX
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Advisory.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Southkorea14.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tradebull Securities.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/piyushgoyal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Currency.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/moil57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/government57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jitendrasingh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Base Metals.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
Buy Silver DEC @ 71000 SL 70200 TGT 71800-72500. MCX - Kedia Advisory
![MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
![MCX Gold is likely to trade with positive bias during today`s trading session - Monarch Networth Capital Ltd](https://portfolio.investmentguruindia.com/uploads/news/Monarch Networth Capital.jpg)
![Crude oil steadied after rallying to a 10-month high on forecasts by OPEC - HDFC Securities](https://portfolio.investmentguruindia.com/uploads/news/c19865d5afaec42f7630b87b72163b12.jpg)