08/03/2013 (MoneyControl.com) - Emkay Commodity Research has come out with its report on Crude Palm Oil (CPO). The research firm says MCX CPO March is expected to trade sideways to lower towards Rs 452 followed by Rs 447 levels in near term. Any intraday gains could cap at 465 levels. 

CPO at MCX ended lower as the industry expert, Mr. Dorab Mistry shared extremely bearish outlook after April. Mr. Mistry sees CPO to trade in rage of 2300-2600 MYR/Ton till April and then slip to 2200 MYR/Ton amid higher soyoil supply and increase in the inventories of India, China, Malaysia and Indonesia.   Palm oil is looking to trade with weak bias on expected increase in inventories and possibility of record high edible oil imports by India. 

Technical:  MCX CPO Mar is expected to trade sideways to lower towards 452 followed by 447 levels in near term. Any intraday gains could cap at 465 levels. 

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