Ref Soyaoil yesterday traded with the positive node and settled 0.45% up at 602.25. Some pressure had been seen from the spot market also which closed at 601 that is down by -8rs. In yesterday's trading session Ref Soyaoil has touched the low of 600.5 after opening at 600.5, and finally settled at
602.25. For today's session market is looking to take support at 600, a break below could see a test of 597.8 and where as resistance is now likely to be seen at 604.9, a move above could see prices testing 607.6. Spread between Ref Soyaoil JAN & FEB contracts yesterday ended at 16.85, we have seen yesterday that the Ref Soyaoil market had traded with a positive node and settled 0.45% up. Spread yesterday traded in the range of 16.85 to 18.05.

Trading Ideas:

Ref soyaoil trading range is 597.8-607.6.

Ref Soyaoil yesterday traded with the positive node and settled 0.45% up

Support for ref soya oil is seen at 600 level

Ref Soy oil looks to have a resistance at 604.90 level.

BUY REF.SOYA JAN @ 600 SL 598 TGT 602.50-604.NCDEX

At the Indore spot market soyoil edged up by 5.3 rupee to 583.05 rupees 10 kgs.