PALM OIL UP 0.8% ON SPOT DEMAND

• CPO prices moved up by 0.82% to Rs 462 per 10 kg in futures market today as speculators indulged in creating fresh positions after demand picked up in spot market.
• At the MCX, crude palm oil for delivery in January rose Rs 3.80, or 0.82%, to Rs 462 per 10 kg in a business turnover of 113 lots.
• Similarly, oil for delivery in February edged up by Rs 3.10, or 0.66%, to Rs 468.50 per 10 kg in 56 lots.
• Technically market is under fresh selling as market has witnessed gain in open interest by 0.39% to settled at 3828 while prices down -2.2 rupee.
• CPO is getting support at 456.3 and below same could see a test of 454.4 level, and resistance is now likely to be seen at 460.3, a move above could see prices testing 462.4.