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2025-05-07 12:17:28 pm | Source: Kedia Advisory
Sell Kapas Apr @ 1590 SL 1600 TGT 1580-1570. NCDEX - Kedia Advisory
Sell Kapas Apr @ 1590 SL 1600 TGT 1580-1570. NCDEX - Kedia Advisory

Cottoncandy

Cottoncandy prices rose by 0.65% yesterday to settle at Rs.54,500, driven by expectations of a tighter domestic supply outlook. The Cotton Association of India (CAI) has revised its crop estimate downward by 4 lakh bales to 291.30 lakh bales (of 170 kg each), citing weaker production in Maharashtra. This adjustment follows updated reports from state associations and highlights the continued pressure on India’s cotton output for the 2024–25 season. Total cotton supply up to March, including 25 lakh bales of imports and 30.19 lakh bales of opening stock, is estimated at 306.83 lakh bales. However, despite this bullish supply-side data, upside momentum is capped. Mills remain well-stocked, with limited immediate buying needs. Stocks at the end of March are estimated at 127.83 lakh bales, including 100.83 lakh bales held by CCI, trade, and state federations. Cotton exports are projected to fall sharply to 16 lakh bales, down from last year’s 28.36 lakh bales, while imports are expected to more than double to 33 lakh bales due to further anticipated crop shrinkage. Globally, the U.S. balance sheet shows a minor reduction in exports and a corresponding increase in ending stocks. World cotton production is also revised downward slightly, with lower output in Argentina and Africa outweighing gains in China. Technically, the cottoncandy market is under short covering, with no change in open interest. Support lies at Rs.54,500 and a drop below could see prices test Rs.?54,490, while resistance is at Rs.54,510, with further gains possible up to the same level.

BUY COTTONCANDY MAY @ 54300 SL 54000 TGT 54600-54800. MCX

 

Cocudakl

SELL COCUDAKL MAY @ 2950 SL 2990 TGT 2910-2870. NCDEX

 

 

KAPAS

SELL KAPAS APR @ 1590 SL 1600 TGT 1580-1570. NCDEX

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