An Update on COTTON

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·
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State-run Cotton Corporation of India (CCI) has begin with the

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procurement of Cotton crop in Punjab and Rajasthan.

·
ark
CCI has been purchasing in small quantities due

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to high moisture content in the crop.

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Cotton arrivals are set to pick up by the end of October or early

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November.

· “We believe there will be clarity on the crop situation only by the month-
end. CAI will have a meeting on October 15
to assess the crop,” said Atul Ganatra, President of Cotton
Association of India (CAI)
 Technical Levelsiew
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Cotton looks weak on the chart and has been moving in a wide range.

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It has its major support at 19300 and resistance is seen at 20400.

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Break and sustain below 19300 will see panic till 18200---17500 levels or

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else it can climb up to touch its resistance level of 20400.

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Fresh buying can be done only on a close
above 20400.

Trade with levels only.