Sure Shot Intraday share Market Tips

On the economic front, existing home sales, which dipped slightly last month. The inventory of previously owned homes listed for sale, meanwhile, increased to 2.43 million, equal to a 6.4-month supply at the current sales pace and just above a healthy level of about six months.

Mcx Tips benchmark crude may begin today's session near Rs 5430 levels with support near Rs 5400 and Rs 5370 levels. 

Ref Soyaoil yesterday traded with the negative node and settled -1.01% down at 731.4 on profit-taking driven by a drop in the world markets though a weak rupee and an estimated drop in domestic rapeseed output limited the downside. In international markets, some weakness is seen mainly due to profit booking. 

WASDE report released by the USDA was also neutral to slightly bearish as the US soybean oil stocks are projected at 2.4 billion pounds, up 100 million from last month. 

World soybean oil is likely to remain up from last year’s figure. World vegetable oil production is also expected to increase substantially from last year’s figure. The total availability at the Indian ports is also improved in recent past. Market is rallying on yield concerns. Key spot markets in the country are getting lower-than-expected arrivals. 

The country's rapeseed output is estimated to drop 12.6 percent to 6.03 million tonnes in the year to June 2012. At the Indore spot market soyoil edged down by -1.25 rupee to 731.5 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 729.1 after opening at 736.3, and finally settled at 731.4. For today's session market is looking to take support at 727.1, a break below could see a test of 722.8 and where as resistance is now likely to be seen at 737.7, a move above could see prices testing 744.1.

Trading tips for share tips :

Ref soyaoil trading range for the day is 722.77-744.07.

Ref soyoil fell on profit-taking driven by a drop in the world markets.

The total availability at the Indian ports is improved in recent past. Market is rallying on yield concerns.

WASDE report by USDA was neutral to slightly bearish as US soybean oil stocks are projected at 2.4 billion pounds.

At the Indore spot market soyoil edged down by -1.25 rupee to 731.5 rupees 10 kgs.

Crude Palm Oil yesterday traded with the negative node and settled -0.07% down at 570.5. as some traders booked profits from an earlier rally although expectations of cargo surveyors reporting strong exports growth next week curbed losses. 

Malaysian exports jumped 14 percent for the first 20 days of March from a month ago, according to cargo surveyors, and traders are expecting the trend to continue when data for March 1-25 is released. As per latest release from Trade Ministry of Indonesia, the export duties of Crude Palm oil (CPO) will rise from 16.5% to 18% in April 2012 due to elevated prices of CPO in international market. 

The April export tax on refined palmolein will be set at 10%.Cargo surveyor Intertek Testing Services reported a 37 percent month-on-month increase in Malaysian exports for the first 15 days of March to 697,804 tonnes, pointing to brightening demand prospects.