Refined Soya Oil Futures Edge Upwards

The NCDEX Refined Soya oil futures are trading slightly higher today with a possibility of some sell off emerging in the commodity at elevated levels.

The current upside momentum is primarily on some follow up buying in the early moves even though the overseas cues are mixed.

The pattern in the NCDEX January refined soy oil futures has been quite characteristic in the last few sessions, with the Rs 532 level providing a very good support.

We may expect some selling at higher level today as intraday traders get out in the closing hours. The overall movement should be sideways.