Technical Outlook & Trading Strategy:-
We reiterate our bullish bias on the price of Soya Oil Ref. The price of soya oil has taken good support around its key moving average clusters placed between the Rs 650-Rs 648.50 levels.
Moreover, the price of soya oil has formed a two bar bullish reversal candlestick pattern on its daily charts at these key support levels.
Thus, we recommend traders to buy between Rs 654.25--Rs 652 levels with a stop loss placed below Rs 647.85 levels for upside targets of Rs 657 / Rs 661 levels.
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