Ref Soyaoil yesterday traded with the negative node and settled -0.67% down at 591.10 as short selling and profit taking continues by the market participants. At the Indore spot market soyoil edged down by -0.6 rupee to 572.1 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 590.2 after opening at 594, and finally settled at 591.75. For today's session market is looking to take support at 589.7, a break below could see a test of 587.7 and where as resistance is now likely to be seen at 594.2, a move above could see prices testing 596.7.

Trading Ideas:

Ref soyaoil trading range is 587.5-596.5.

Ref Soyaoil ended weak as short selling and profit taking continues

Support for ref soya oil is seen at 589.70 level

Ref Soy oil looks to have a resistance at 594.20 level.

At the Indore spot market soyoil edged down  by -0.85 rupee to 571.85 rupees 10 kgs.