Ref Soyaoil yesterday traded with the negative node and settled -1.83% down at 613.2 tracking falls in spot demand.
India imported 435,735 tonnes of vegetable oil in March, down 31.1 percent from a year ago, data released by a leading industry body showed.
At the Indore spot market soyoil edged down by -4.25 rupee to 608.3 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 610.7 after opening at 622.5, and finally settled at 613.2.
For today's session market is looking to take support at 608.3, a break below could see a test of 603.3 and where as resistance is now likely to be seen at 620.6, a move above could see prices testing 627.9.
Trading Ideas:
Ref soyaoil trading range is 603.4-628.
Ref Soyaoil yesterday traded with the negative node tracking fall in spot demand
Ref Soya oil looks to take support at 608.30 level
Ref Soya oil having resistance at 620.60 level
At the Indore spot market soyoil edged down by -4.25 rupee to 608.3 rupees 10 kgs.
