sugar updates

NCDEX - Sugar Future prices Showing weakness.
NCDEX Sugar March-2012 delivery contract opened at Rs. 2867 per 100 kg today, an increase of Rs. 6 per 100 kg over previous close price. At present NCDEX Sugar March 2012 contract is trading unchanged at Rs. 2861 per 100 kg, as against previous close. The contract has so far traded in the range of Rs. 2854-2867 per 100 kg. Open interest is at 38410. Volume has declined to 2950, lower by 3670 against previous trading day. NCDEX Sugar March-2012 Futures (11:20 AM IST) Last Traded Open High Low Previous Close Volume Open Interest 2861 2867 2867 2854 2861 2950 38410 nnbsp; Price Drivers: Bearish Factor : 1) Prices moving in a falling channel 2) Will try to test trendline support level. nnbsp;