Thursday 26 July 2012

Oilseeds Likely To Witness High Volatility


Oilseeds ended the last day up on the back of barging buying amid weak local currency. The most active August RSO contract on NCDEX ended the last day up by 0.93% at Rs 798.95 after moving in the range of Rs 801.40-786.60 per 10 kg. Technically, the August RSO is likely to find next resistance at Rs 805, Rs 811 while support is at Rs 786, Rs 781 per 10 kg.

Malaysian Palm Oil futures slipped with most active October contract is trading at MYR 2929, down by MYR 22 per tonne. The counter traded in the range of MYR 2943- 2922 per tonne. US Soya Oil futures for the August delivery currently trading with nominal losses at 52.45, down 0.55 cents per pound in the after-hours trading session. [ Dhansukh ]

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