Crude Palm oil yesterday traded with the positive node and settled 0.96% up at 548.3 on expectations of pick up in demand in the spot market tracking firmness in Malaysian palm oil. Malaysia's Jan palm oil exports during January 1-15 were up 3.7% from the same period last month to 568,535 metric tonnes. In yesterday's trading session Crude Palm oil has touched the low of 543.2 after opening at 546.5, and finally settled at 548.3. For today's session market is looking to take support at 544.9, a break below could see a test of 541.5 and where as resistance is now likely to be seen at 550, a move above could see prices testing 551.7.

Trading Ideas:

Crude Palm OIl trading range is 541.3-551.5.

Crude Palm oil jumped on expectations of pick up in demand in the spot market

Resistance for crude palm oil is at 550 level

Support for crude palm oil is at 544.90 level.

BUY CPO JAN @ 548 SL 545 TGT 552.50-554.MCX

Crude palm oil in spot market gained 5 rupees and settled at 543 rupees.