Sell Kapas Apr @ 1520 SL 1530 TGT 1505-1495. NCDEX - Kedia Advisory
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Cottoncandy
Cottoncandy prices edged lower by 0.11%, settling at Rs.54,820, as global cotton production for CY 2024-25 is projected to rise by over 1.2 million bales to 117.4 million bales, driven by increased output in India and Argentina. In India, cotton arrivals in Punjab, Haryana, and Rajasthan have declined by 43% as of November 30, raising concerns across the supply chain. Farmers are reportedly holding back kapas in anticipation of higher prices, causing raw material shortages for ginners and spinners, particularly in Punjab. However, demand for cotton yarn in South India has increased due to robust garment industry requirements and strong export orders. The Cotton Association of India (CAI) has maintained its consumption estimate for the 2024-25 season at 313 lakh bales. Imports are projected to rise to 25 lakh bales, up from 15.20 lakh bales last year, with 9 lakh bales already arriving at Indian ports by November 30. Closing stocks for September 2025 are forecasted at 26.44 lakh bales, a decline from 30.19 lakh bales in the previous year. Globally, U.S. cotton production is revised higher to 14.3 million bales, with world ending stocks rising by 267,000 bales. Technically, the market is under long liquidation, with open interest unchanged at 422 contracts while prices declined by Rs.60. Cottoncandy finds support at Rs.54,750, and a break below could test Rs.54,680. On the upside, resistance is expected at Rs.54,910, with a potential move towards Rs.55,000 if breached.
BUY COTTONCANDY JAN @ 54700 SL 5400 TGT 55000-55300. MCX
Cocudakl
SELL COCUDAKL JAN @ 2780 SL 2820 TGT 2740-2710. NCDEX
Kapas
SELL KAPAS APR @ 1520 SL 1530 TGT 1505-1495. NCDEX
Cotwasoil
SELL COTWASOIL JAN @ 1240 SL 1250 TGT 1230-1220. NCDEX
