Cotton on MCX settled down -0.87% at 19260 on subdued demand from bulk consumers and higher supplies in local mandis. Demand is still very poor on lower quality available in market. Domestic demand of fiber has been moderate since beginning of the current season started in October due to quality issue as market is lacking with superior quality of cotton. India continued to import in the month of October and so far close to 230,000 bales have been imported till Oct 18. In global markets, weekly export sales data showed net upland sales totaled 340,200 running bales (RB) of cotton for the week ended Oct 13, up 50% from the previous week.

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 Technically market is under long liquidation as market has witnessed drop in open interest by -17.03% to settled at 1252 while prices down -170 rupee, now Cotton is getting support at 19200 and below same could see a test of 19140 level, And resistance is now likely to be seen at 19360, a move above could see prices testing 19460.