Ref Soyaoil yesterday traded with the negative node and settled -1.58% down at 577.7 suffering profit booking. There was some price pressure at the Soyabean and that too has weighed on the soya oil prices. At the Indore spot market soyoil edged down by -2.6 rupee to 575.6 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 577.6 after opening at 587.5, and finally settled at 577.7. For today's session market is looking to take support at 574.4, a break below could see a test of 571 and where as resistance is now likely to be seen at 584.3, a move above could see prices testing 590.8.

Trading Ideas:

Ref soyaoil trading range is 571-590.8.

Ref Soyaoil ended lower suffering from profit booking

Support for ref soya oil is seen at 574.70 level

Ref Soy oil looks to have a resistance at 584.30 level.

At the Indore spot market soyoil edged down  by -2.6 rupee to 575.6 rupees 10 kgs.