NCDEX Ref. Soya Oil under short covering Resistance seen at 890

India, Jan. 23 -- Technically Ref. Soya Oil market is under short covering as market has witnessed drop in open interest by 3.29% to settled at 54080 while prices up 2.4 rupees.Now NCDEX Ref. Soya Oil is getting support at 868 and below same could see a test of 854 levels and resistance is now likely to be seen at 890 a move above could see prices testing 898.

Ref. Soya Oil on NCDEX settled up by 0.27% at 882.8 on increased buying tracking firm trend in soybean prices. As per recent released data of Ministry the total area under Oilseeds is reported lower by 1.3 lakh hectares to 71.79 lakh hectares against 73.08 lakh hectares in the previous year in the corresponding period of time.The country s oil meals export fell sharply by 79.20 per c...