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Cottoncandy 

Cotton candy prices fell by 0.61%, settling at 56,920, as weak demand in the yarn markets and payment constraints weighed on the market. The USDA has reduced India's cotton production forecast for the 2024-25 season to 30.72 million bales, with ending stocks also lowered to 12.38 million bales due to crop damage from excessive rainfall and pest issues. Global cotton production estimates, however, have been raised by over 200,000 bales, with increases in China, Brazil, and Argentina offsetting reductions in the U.S. and Spain. India's cotton production is projected to fall by 7.4% from the previous year, with acreage down by 9% and farmers in key regions like Gujarat shifting to other crops like groundnuts for better returns. India’s cotton demand is expected to remain steady at 31.3 million bales in 2024/25, while exports are forecast to fall to 1.8 million bales, down from 2.85 million bales last year. This reduction in production will likely lead to increased imports, projected to rise to 2.5 million bales. On the global front, U.S. cotton production is expected to be lower due to damage from Hurricane Helene, while global trade is projected to decrease by 500,000 bales, largely driven by reduced Chinese imports. From a technical standpoint, the market is under fresh selling pressure, with open interest rising by 2.24% to settle at 137 contracts. Cotton candy prices are currently finding support at 56,880, with the next key support level at 56,840. On the upside, resistance is expected at 56,980, and a break above this could push prices toward 57,040.

BUY COTTONCANDY NOV @ 56700 SL 56300 TGT 57100-57400. MCX

Cocudakl

SELL COCUDAKL DEC @ 3050 SL 3100 TGT 3000-2960. NCDEX

Kapas

BUY KAPAS APR @ 1575 SL 1565 TGT 1585-1595. NCDEX