09. 45 PM IST
Indian
soy oil and crude palm oil futures market trade firm since afternoon on renewed
buying support in the market. Traders opine that positive crude oil sentiments
in the international markets and soy oil improvement at the Chicago Board of
Trades has prompted Indian market to cover their short positions.
It
appears that if today night market close substantially up from previous day
close, then next week may witness significant upside movement due to fresh
speculative buying in the market. Thus today’s closing price is very important
for the market.
We
will update the next week support and resistance in the next update possibly
tonight after market close.
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