CRUDE PALM OIL GAINS BY 0.6%

Crude palm oil rose 0.58% to Rs 448.90 per 10 kg in futures trade today as speculators created fresh position amid pick up in domestic demand.
At the MCX crude palm oil for delivery in April edged up by Rs 2.60, or 0.58%, to Rs 448.90 per 10 kg in business turnover of 41 lots.
The oil for delivery in March gained Rs 2.30, or 0.52%, to Rs 448.80 per 10 kg in 70 lots.
Crude palm oil imports rose 72.09% to 580,695 tons in January compared to 337,418 tons in the same period a month ago, data release from the Solvent Extractors Association (SEA) of India showed.
Technically market is under long liquidation as market has witnessed drop in open interest by -6.53% to settled at 2118 while prices down -1.8 rupee, now CPO is getting support at 445.3 and below same could see a test of 444.1 level, and resistance is now likely to be seen at 447.4, a move above could see prices testing 448.3.
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