Ref Soyaoil yesterday traded with the negative node and settled -0.47% down at 637.35 on some profit booking at the higher levels, as the prices moved up on bullish trends in last week on good buying support in the market. In physical markets too demand was seen which further supported the market sentiments. Showers in Argentina's farming areas caused some delays in the country's 2010/11 soy harvest, the government said in its weekly report, although most of the crop has already been brought in. At the Indore spot market soyoil edged down by -2.15 rupee to 636.15 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 636.1 after opening at 639.8, and finally settled at 637.35. For today's session market is looking to take support at 635.1, a break below could see a test of 632.9 and where as resistance is now likely to be seen at 640.6, a move above could see prices testing 643.9.

Trading Ideas:

Ref soyaoil trading range is 632.9-643.9.

Ref Soyaoil yesterday traded with the negative node on some profit booking at the higher levels

Ref Soya oil looks to take support at 635.10 level

Ref Soya oil having resistance at 640.60 level

At the Indore spot market soyoil edged down by -2.15 rupee to 636.15 rupees 10 kgs.