NCDEX Refined Soy Oil futures are trading mixed today after the recent array of gains as the markets consolidate around Rs 470 mark for NCDEX April contract, which has just, turned the benchmark expiry. The global cues are extremely upbeat today with Malaysian CPO futures hitting a high near MYR 2700 per tonne and crude oil edging near $81 per barrel. Rabi arrivals in the domestic markets are expected to pick up in the coming weeks and traders are wondering whether the impressive run from Rs 458 would continue in the near term if the spot markets fail to respond proportionately. NCDEX April Refined Soy trades at Rs 470.45, down Rs 0.55 or 0.12% from the previous close after trading as low as Rs 469. The counter may eye levels of Rs 472.10 if it stays above Rs 470. A counter view would bring in Rs 467.50.
