Ref Soyaoil yesterday traded with the negative node and settled -0.36% down at 668.9 on short selling tracking the weak global oilseed cues. The report comes hot on the heels of U.S. Department of Agriculture (USDA) data showing tighter soyoil stocks and a lower forecast for Argentina's soy crop that earlier suffered a dry spell. At the Indore spot market soyoil edged down by -0.65 rupee to 641.05 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 667.1 after opening at 673, and finally settled at 668.9. For today's session market is looking to take support at 666.2, a break below could see a test of 663.4 and where as resistance is now likely to be seen at 672.6, a move above could see prices testing 676.2.

Trading Ideas:

Ref soyaoil trading range is 663.5-676.3.

Ref Soyaoil ended weak on short selling tracking the weak global oilseed cues.

Ref Soya oil looks to take support at 666.20 level

Ref Soya oil having resistance at 672.60 level

At the Indore spot market soyoil edged down  by -0.65 rupee to 641.05 rupees 10 kgs.