Capital stroke NCDEX Update : CRUDE PALM OIL 7 JULY 2014

CPO trading range for the day is 521.9-533.5.Crude palm oil settled up on late short covering after prices dropped due to fall in demand in the spot market.Ample inventories in the physical market on increased supplies from the major producing belts too added pressure.Downside also seen limited on fear that El Nino phenomenon in Malaysia and Indonesia may hamper palm oil output.Crude palm oil prices in spot market gained by 2.30 and settled at 531.10 rupees.BUY CPO JULY @ 527.50 SL 524.50 TGT 529.80-533.


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