Refined soya oil prices traded higher by 0.42 per cent to Rs 586.50 per 10 kg in futures trade today as speculators created fresh positions, amid pick up in domestic demand and restricted supplies from producing belts.
At the NCDEX refined soya oil contract for June month rose by Rs 2.45, or 0.42 per cent to Rs 586.50 per 10 kg with an open interest of 1,14,955 lots.
The August contract traded higher by Rs 1.40, or 0.25 per cent to Rs 570.60 per 10 kg in 1,18,465 lots.
Technically market is under short covering as market has witnessed drop in open interest by -1.66% to settled at 115155 while prices up 1.45 rupee, now Ref.Soya oil is getting support at 581 and below same could see a test of 579 level, and resistance is now likely to be seen at 585, a move above could see prices testing 587.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , commodity free tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
At the NCDEX refined soya oil contract for June month rose by Rs 2.45, or 0.42 per cent to Rs 586.50 per 10 kg with an open interest of 1,14,955 lots.
The August contract traded higher by Rs 1.40, or 0.25 per cent to Rs 570.60 per 10 kg in 1,18,465 lots.
Technically market is under short covering as market has witnessed drop in open interest by -1.66% to settled at 115155 while prices up 1.45 rupee, now Ref.Soya oil is getting support at 581 and below same could see a test of 579 level, and resistance is now likely to be seen at 585, a move above could see prices testing 587.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity Tips , Commodity free tips , Commodity intraday tips , commodity free tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.
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