Ref Soyaoil yesterday traded with the positive node and settled 0.87% up at 666.1 due to good demand in the spot market and an increase in Malaysian palm oil prices. At the Indore spot market soyoil edged up by 1.4 rupee to 649.3 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 660.9 after opening at 660.9, and finally settled at 666.1. For today's session market is looking to take support at 662.5, a break below could see a test of 658.8 and where as resistance is now likely to be seen at 668.2, a move above could see prices testing 670.2.

Trading Ideas:

Ref soyaoil trading range is 658.7-670.1.

Ref soyaoil rose due to good demand in the spot market

Ref Soya oil looks to take support at 662.50 level

Ref Soya oil having resistance at 668.20 level

BUY REF.SOYA FEB @ 664 SL 660 TGT 668.50-670.50-672.80.NCDEX

At the Indore spot market soyoil edged up  by 1.4 rupee to 649.3 rupees 10 kgs.