NCDEX Ref. Soya Oil under fresh buying Resistance seen at 1365

India, April 16 -- Technically Ref. Soya Oil market is under fresh buying as market has witnessed gain in open interest by 6.56% to settled at 36950 while prices up 28.3 rupees.

Now NCDEX Ref. Soya Oil is getting support at 1337 and below same could see a test of 1319 levels and resistance is now likely to be seen at 1365 a move above could see prices testing 1375.

Ref. Soya Oil yesterday settled flat at 1356.3 after the food ministry has sent a proposal to the Empowered Group of Ministers to review edible oil prices and a meeting may be called soon. The government is likely to review edible oil prices soon.

Sources said a decision on import duty reduction may be taken in that meeting. Country's total vegetable oil imports rose marginall...