Ref Soyaoil yesterday traded with the negative node and settled -0.65% down at 600.4 as traders locked in profits at higher levels, influenced by fall in demand in the spot market. At the Indore spot market soyoil edged down by -1.65 rupee to 578.7 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 599.1 after opening at 604, and finally settled at 600.4. For today's session market is looking to take support at 597.8, a break below could see a test of 595.3 and where as resistance is now likely to be seen at 604.2, a move above could see prices testing 608.1.

Trading Ideas:

Ref soyaoil trading range is 595.4-608.2.

Ref Soyaoil ended down as traders locked in profits at higher levels

Support for ref soya oil is seen at 597.80 level

Ref Soy oil looks to have a resistance at 604.20 level.

At the Indore spot market soyoil edged down  by -1.65 rupee to 578.7 rupees 10 kgs.