The adjoining chart is of NCDEX soya oil March contract. We can observe that soya oil has been in a short-term uptrend for the past couple of weeks. It has been forming higher tops and higher bottoms on the daily charts which indicates an uptrend. The daily momentum indicator has a positive crossover and is currently trading above the 20- and 40-daily moving averages. Our initial target of Rs709 has been achieved. Traders are advised to trail their stop loss at Rs702 to protect their profits. The targets on the
upside are Rs718 and Rs728.