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In yesterday's trading tips for Ref Soyaoil has touched the low of 731.75 after opening at 733.3, and finally settled at 738.2. For today's session market is looking to take support at 732.3, a break below could see a test of 726.5 and where as resistance is now likely to be seen at 743.5, a move above could see prices testing 748.8.

Trading Ideas for mcx tips :

Ref soyaoil trading range for the day is 726.47-748.77.

Ref soyoil ended higher tracking gains in spot market demand.

So far as supply fundamentals are concerned, Indian edible oil supply situation is gradually improving.

Total availability at Indian ports is improved in recent past. Key spot markets are getting lower-than-expected arrivals..

At the Indore spot market soyoil edged up by 3 rupee to 732.75 rupees 10 kgs.

Pepper April delivery dropped Rs 1690 and settled at Rs 40610/quintal as traders continued to book profits taking advantage of higher prices but lower supplies and weak stocks limited the losses. Overall supplies have been low in the local market since the start of the season on reduced arrivals from farmers, who expect further price increases due to lower estimated output. 

Overall supplies have been low in the domestic market since the start of the season because of reduced arrivals from farmers expecting further price increases due to lower estimated output. Industry officials estimate 43,000-45,000 tonnes of domestic pepper output for 2012, compared with 49,000 tonnes last year. As per the latest release from the spices board of India, India's spices exports rose by 49% to 22,300 tonnes while value is up by 143% to Rs 72,078.25 lakhs during April to January 2012. Strong demand against the tight supplies added strength in Black Pepper. 

India's total production of pepper is likely to decline by almost 5000-6000 tonnes from the previous estimates of 43000 tonnes to 36000 tonnes due to early rainfall in major pepper growing regions which might reduce the pepper productivity in the current year. Overseas buyers are following a wait and watch stance and are absent from the market. Spot pepper dropped -625 rupees to 40690 rupees per 100 kg in Kochi market. 

The contract touched the intra day high of Rs 42200/quintal while low of Rs 40610/quintal. Now support for the pepper is seen at 40080 and below could see a test of 39550. Resistance is now likely to be seen at 41670, a move above could see prices testing 42730.

Trading Ideas:

Pepper trading range for the day is 39550-42730.

Pepper fell on continued profit booking at but lower supplies and weak stocks limited the losses.

Overall supplies have been low in the local market since the start of the season on reduced arrivals from farmers.

Ncdex Tips accredited warehouses pepper stocks dropped by 1 tonnes to 2007 tonnes.

Spot pepper dropped -625 rupees to 40690 rupees per 100 kg in Kochi market.