Ref Soyaoil yesterday traded with the negative node and settled -0.18% down at 647.9 as profit-taking outweighed a rise in overseas markets.
Adequate stocks position in the physical market also put pressure on the prices. At the Indore spot market soyoil edged up by 2.4 rupee to 638.1 rupees 10 kgs.
In yesterday's trading session Ref Soyaoil has touched the low of 646 after opening at 648.4, and finally settled at 647.9.
For today's session market is looking to take support at 645.3, a break below could see a test of 642.6 and where as resistance is now likely to be seen at 651.3, a move above could see prices testing 654.6.
Trading Ideas:
Ref soyaoil trading range is 642.6-654.6.
Ref Soyaoil ended down as profit-taking amid adequate stocks position.
Ref Soya oil looks to take support at 645.30 level
Ref Soya oil having resistance at 651.30 level
At the Indore spot market soyoil edged up by 2.4 rupee to 638.1 rupees 10 kgs.
