Refined soya oil prices traded higher by 0.68 per cent at Rs 587.80 per 10 kg in futures trading today, amid a pick-up in domestic demand and restricted supplies from producing regions.
At the NCDEX, refined soya oil for delivery in far-month August contracts moved up by Rs 3.95, or 0.68 per cent, to Rs 587.80 per 10 kg with an open interest of 1,73,080 lots.
The June contract was trading higher by Rs 3.70, or 0.62 per cent, to Rs 598.25 per 10 kg in 63,320 lots.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 600 rupees per 10 kgs. Technically market is under long liquidation as market has witnessed drop in open interest by -4.86% to settled at 63650 while prices down -0.95 rupee, now Ref.Soya oil is getting support at 592 and below same could see a test of 588 level, and resistance is now likely to be seen at 598, a move above could see prices testing 600.
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 , MCX Tips Services 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 for delivery in far-month August contracts moved up by Rs 3.95, or 0.68 per cent, to Rs 587.80 per 10 kg with an open interest of 1,73,080 lots.
The June contract was trading higher by Rs 3.70, or 0.62 per cent, to Rs 598.25 per 10 kg in 63,320 lots.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 600 rupees per 10 kgs. Technically market is under long liquidation as market has witnessed drop in open interest by -4.86% to settled at 63650 while prices down -0.95 rupee, now Ref.Soya oil is getting support at 592 and below same could see a test of 588 level, and resistance is now likely to be seen at 598, a move above could see prices testing 600.
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 , MCX Tips Services 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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