REFINED SOYA OIL UP 0.3% ON SPOT DEMAND

After two day’s continuous fall, counter wit-nessed a mild profit booking and finally closed the day at 582. Currently, prices need to puncture the horizontal support of 578.50 for the following correction to continue towards 576/573 and then to 570 levels.

Ref.Soya oil prices rose by 0.35% to Rs 562.25 per 10 kg in futures trade today as speculators created fresh position, driven by pick-up in demand in the spot market.
At the NCDEX refined soya oil for delivery in June rose by Rs 1.95, or 0.35%, to Rs 562.25 per 10 kg with an open interest of 1,19,740 lots.
the oil for delivery in May contract edged up by 60 paise, or 0.10% to Rs 581.60 per 10 kg in 86,500 lots.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 598.2 rupees per 10 kgs.
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