Soyabean yesterday we have seen that market has moved 0.68% on the global clues as news came that U. S. Agriculture Department projects 11 percent of U. S. soybean oil will be turned into biodiesel this marketing year. Market has opened at 2140 & made a low of 2134 versus the day high of 2155.

The total volume for the day was at 52090 lots and the open interest was at 185050. Support for soyabean is at 2140 below that could see a test of 2126. Resistance is now seen at 2161 above that could see a resistance of 2168.

Trading Ideas:

Soyabean trading range is 2125-2167.

Soyabean jumped on the global clues as US govt new effort to revive U. S. biodiesel credit

Soyabean today will face resistance at 2174 level where selling pressure will be seen for support 2112 level

The total volume for the day was at 52090 lots and the open interest was at 185050

Spot prices of soya bean traded in the range of around Rs 2130-2150 quintal

BUY SOYABEAN MAR @ 2145 SL 2128 TGT 2160-2178-2190.NCDEX