Today
Soy oil market in India traded with a bullish undertone despite the fact that yesterday
sharp correction was seen.
In
fact, strong international market sentiments i.e soy oil at CBOT and Crude palm
oil at BMD, Malaysia added to the bullish undertone of the Indian market.
Firm
international crude oil sentiments also supported the market. Despite all these
positive factors market was unable to break yesterday’s high price indicating
that traders are still in dilemma regarding future movement of the market.
It
may take some more time to witness the clear direction of the market. Let us
wait for a day or two.
Today
NCDEX Soy oil Feb contract closed at 631.30 (1.25 % up from previous close).
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