Castor Seeds – Prices drop

Castorseed futures prices fell by Rs.83 to Rs.4,545 per quintal. This is due to the increased supply in the market and lower industrial demand.

At the National Commodity and Derivatives Exchange, castorseed price for the month of February dropped down by Rs. 83 to Rs.4,545 per quintal, with an open interest of 7,370 lots. Near March-month delivery contract also fell by Rs 70, or 1.61 percent, to Rs 4,277 per quintal, with an open interest of 5,770 lots.

Information obtained from  –

Castor Seed Jan may See Buying at Rs 4,310-4,360: Kotak

Commenting on the technical outlook, Dharmesh Bhatia, associate VP-Research, Kotak Commodities Services said the following:
Castor Seed January prices are trading firm and has made a contract high of Rs 4,439, next level is at Rs 4,650. Unless price closes below Rs 4,110, buying is advisable at Rs 4,310-4,360, with stop loss of Rs4,225 and target of Rs 4,610.