Amid profit-booking by speculators at prevailing levels and a weakening trend overseas, crude palm oil futures prices fell 0.77% to Rs 455.10 per 10 kg today.
At MCX , crude palm oil for delivery in July eased Rs 3.50, or 0.77%, to Rs 446.50 per 10 kg in a business turnover of 150 lots.
Similarly, the oil for delivery in June traded lower by Rs 3, or 0.66%, to Rs 447.20 per 10 kg in 192 lots.
Technically market is under long liquidation as market has witnessed drop in open interest by -4.54% to settled at 3955 while prices down -0.1 rupee, now CPO is getting support at 447.2 and below same could see a test of 444.2 level, and resistance is now likely to be seen at 453.2, a move above could see prices testing 456.2.
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ReplyDeleteWWR JEERA 18-MAR
SUPP 1 : 14190
SUPP 2 : 14020
RES 1 : 14400
RES 2 : 14600
AGRI COMMODITY TIPS