Kapaskhali futures fall on profit booking

MUMBAI, May 12 (Reuters) - India's cottonseed oilcake, or kapaskhali, futures fell on Monday as traders booked profits after gains in the last two sessions, analysts said.

"Prices fell on profit booking after futures prices gained on steady spot demand on Saturday," said Suresh Mantri, an analyst with Ventura Commodites Pvt Ltd.

Losses were capped by a firm oilseed complex, analysts said. Cottonseed is related to other oilseed futures and tracks them.

Kapaskhali, a byproduct of cottonseed, is used as cattlefeed and is largely consumed in the north western states of India.

The downward trend spurred analysts to recommend buying at lower levels. Crucial support for the most active July contract NCDN8 was pegged at 439 rupees.

Spot kapaskhali in the Akola market fell by three rupees to 396.50 rupees, per 50 kg.

Following are the closing prices of kapaskhali futures in rupees per 50 kg on the NCDEX <0#NCD:>

Contract Reuters code Price Change in %

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