Ref Soyaoil erased some part of its early losses on bargain-buying. India's March oilmeal exports slumped 34 percent from a year earlier, falling for the fifth straight month, due to weak demand from Vietnam, Japan, South Korea, Indonesia, Thailand and China. Ref Soyaoil yesterday traded with the negative node and settled -0.16% down at 447.6. In yesterday's trading session Ref Soyaoil has touched the low of 445.3 after opening at 446.95, and finally settled at 447.6. For today's session market is looking to take support at 445.8, a break below could see a test of 444.0 and where as resistance is now likely to be seen at 448.8, a move above could see prices testing 450.1.

Trading Ideas:

Ref soyaoil trading range is 444-450.1.

Ref Soyaoil erased some part of its early losses on bargain-buying

Support for ref soya oil is seen at 445.80 level

Ref soya oil looks to have a resistance at 448.80.

Ref soya oil spot price fell by 2.50 rupees and ended at 447.50 rupees.

SELL REF.SOYA APR @ 450 SL 452.60 TGT 447.60-445.20.MCX