Crude palm oil prices eased by 0.63 per cent to Rs 439.30 per 10 kg in futures trading today as speculators trimmed positions amid a weak trend at spot market on sluggish demand.
Besides, adequate stocks position in the physical market on higher supplies from producing belts put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 2.80, or 0.63 per cent, to Rs 439.30 per 10 kg in a business turnover of 252 lots.
In a similar fashion, the oil for delivery in March shed Rs 2.10, or 0.48 per cent, to Rs 436 per 10 kg in 26 lots.
Crude palm Oil settled up by 0.02% at 442.1 on improvement in demand for the oil in export market following improved Malaysia palm oil export data.
Technically market is under fresh buying as market has witnessed gain in open interest by 2.45% to settled at 4549 while prices up 0.1 rupee, now CPO is getting support at 440.4 and below same could see a test of 438.8 level, and resistance is now likely to be seen at 444.9, a move above could see prices testing 447.8.
Get real time advice for Agri Commodity Tips , Best NCDEX Tips Provider , Agri Commodity Trading , Agri Trading Tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900 .
Besides, adequate stocks position in the physical market on higher supplies from producing belts put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 2.80, or 0.63 per cent, to Rs 439.30 per 10 kg in a business turnover of 252 lots.
In a similar fashion, the oil for delivery in March shed Rs 2.10, or 0.48 per cent, to Rs 436 per 10 kg in 26 lots.
Crude palm Oil settled up by 0.02% at 442.1 on improvement in demand for the oil in export market following improved Malaysia palm oil export data.
Technically market is under fresh buying as market has witnessed gain in open interest by 2.45% to settled at 4549 while prices up 0.1 rupee, now CPO is getting support at 440.4 and below same could see a test of 438.8 level, and resistance is now likely to be seen at 444.9, a move above could see prices testing 447.8.
Get real time advice for Agri Commodity Tips , Best NCDEX Tips Provider , Agri Commodity Trading , Agri Trading Tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900 .
0 comments:
Post a Comment