Crude palm oil remained weak and prices shed another 0.19 per cent to Rs 466.70 per 10 kg in futures trade today as traders trimmed positions, tracking a weak trend at spot market on sluggish demand.At the MCX crude palm oil for delivery in July month declined by 90 paise, or 0.19 per cent to Rs 466.70 per 10 kg in business turnover of 39 lots.
Similarly, the oil for delivery in June contracts shed 70 paise, or 0.15 per cent to Rs 465.00 per 10 kg in 83 lots.
Technically market is under fresh buying as market has witnessed gain in open interest by 2.16% to settled at 6523, now CPO is getting support at 460.4 and below same could see a test of 455.1 level, and resistance is now likely to be seen at 469.9, a move above could see prices testing 474.1.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , MCX Tips Services 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