Tuesday, December 27, 2011

NCDEX soy oil gains support at Rs.687 690: Angel

Oilseed seed complex are expected to trade higher on account of firm overseas market as dry weather concern in South America and heavy rains in Malaysia which delay in harvesting and reduce the yield.

Improved demand of soybean from solvent extractions and stockists coupled with declining arrivals of soybean in major mandis as farmers are holding back their stocks in anticipation of higher prices in coming days.

Soy Oil Jan NCDEX Futures Rs./qtl support:687-690 resistance:700-703
Soybean NCDEX Jan Futures Rs./qtl support:2400-2410 resistance:2445-2455
RM Seed NCDEX Jan Futures Rs./qtl support:3435-3450 resistance:3490- 3507
CPO MCX Dec Futures Rs./qtl 528-530 resistance:540-542

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Source: http://www.commodityonline.com/futures-trading/tradingtips/NCDEX-soy-oil-gains-support-at-Rs.687-690%3A-Angel-16202.html

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