Ref Soyaoil yesterday traded with the positive node and settled 0.04% up at 585 as some profit taking drags down the prices from their intraday high. At the Indore spot market soyoil edged up by 3.4 rupee to 577.2 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 584 after opening at 587.2, and finally settled at 585. For today's session market is looking to take support at 582.8, a break below could see a test of 580.7 and where as resistance is now likely to be seen at 588.3, a move above could see prices testing 591.7. Spread between Ref Soyaoil DEC & JAN contracts yesterday ended at 16.20. Spread yesterday traded in the range of 15.8 to 16.5.

Trading Ideas:

Ref soyaoil trading range is 580.8-591.8.

Ref Soyaoil ended flat as some profit taking drags down the prices

Support for ref soya oil is seen at 582.80 level

Ref Soy oil looks to have a resistance at 588.30 level.

At the Indore spot market soyoil edged up  by 3.4 rupee to 577.2 rupees 10 kgs.