Ref Soyaoil yesterday traded with the positive node and settled 0.52% up at 638.7 driven by pick-up in spot demand. Indian soy oil imports had declined by almost 39% during the month of the April creating concerns of the supply situation. The possible short fall of the supply might also support the prices in the short run. At the Indore spot market soyoil edged up by 3.7 rupee to 633.7 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 637.5 after opening at 637.5, and finally settled at 638.7. For today's session market is looking to take support at 636.6, a break below could see a test of 634.5 and where as resistance is now likely to be seen at 641.7, a move above could see prices testing 644.7.

Trading Ideas:

Ref soyaoil trading range is 634.5-644.7.

Ref Soyaoil yesterday traded with the positive node driven by pick-up in spot demand

Ref Soya oil looks to take support at 636.60 level

Ref Soya oil having resistance at 641.70 level

At the Indore spot market soyoil edged up by 3.7 rupee to 633.7 rupees 10 kgs.