Sell Kapas Apr @ 1590 SL 1600 TGT 1580-1570. NCDEX - Kedia Advisory
Cottoncandy
Cottoncandy prices declined by 0.86%, settling at 53,040 per candy, as bearish sentiment persisted due to a marginal upward revision in India’s cotton output estimate. The Cotton Association of India (CAI) raised production to 291.35 lakh bales, citing improved yield from Odisha, though the increase is minimal compared to previous projections. In contrast, CAI has cut cotton consumption estimates by 8 lakh bales to 307 lakh bales, signaling slower domestic offtake. Exports are also projected lower, trimmed by 1 lakh bale to 15 lakh bales, well below the 28.36 lakh bales exported last season. Imports, however, remain elevated at 33 lakh bales, with 27.5 lakh bales already brought in by April, more than double from the prior year, leading to expectations of higher ending stocks at 32.54 lakh bales by September 2025. On the global front, the June WASDE report painted a mixed outlook. While world cotton production for 2025–26 was revised down to 116.99 million bales, consumption was also trimmed to 117.76 million bales, resulting in tighter ending stocks at 76.80 million bales. Notably, U.S. cotton production is forecast at 14 million bales, one of the lowest in a decade, affected by adverse weather and reduced acreage. Technically, the market is under fresh selling pressure as open interest rose by 1.64%, indicating bearish sentiment. Immediate support lies at 52,800, with a further decline possibly testing 52,400. Resistance is placed at 53,400, and a breakout could take prices toward 53,700.
SELL COTTONCANDY JUL @ 53300 SL 53600 TGT 53000-52800. MCX
COCUDAKL
SELL COCUDAKL JUL @ 3150 SL 3190 TGT 3110-3080. NCDEX
KAPAS
SELL KAPAS APR @ 1590 SL 1600 TGT 1580-1570. NCDEX
