Ref Soyaoil yesterday traded with the positive node and settled 0.51% up at 595.3 due to demand in spot markets and a decline in edible oil imports in November. At the Indore spot market soyoil edged down by -0.95 rupee to 572.7 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 591.8 after opening at 592.45, and finally settled at 595.3. For today's session market is looking to take support at 592.9, a break below could see a test of 590.4 and where as resistance is now likely to be seen at 596.7, a move above could see prices testing 598.1.

Trading Ideas:

Ref soyaoil trading range is 590.4-598.1.

Ref Soyaoil ended firm due to demand in spot markets

Support for ref soya oil is seen at 592.90 level

Ref Soy oil looks to have a resistance at 596.70 level.

At the Indore spot market soyoil edged down by -0.95 rupee to 572.7 rupees 10 kgs.