Soyabean yesterday we have seen that market has moved 2.7% after witnessing some profit booking in the last session. The Overall sentiments still seems positive for the commodity on good export demand. At the Indore spot market in top producer MP, soybean gained 17 Rs to 2239Re 100 kgs. Market has opened at 2324 & made a low of 2321 versus the day high of 2382. The total volume for the day was at 147820 lots and the open interest was at 226540. Support for soyabean is at 2337 below that could see a test of 2298. Resistance is now seen at 2398 above that could see a resistance of 2420.

Trading Ideas:

Soyabean trading range is 2298-2420.

Soyabean settled higher as traders bought position after profit booking in last session

Soyabean is taking resistance at 2398 and support is seen at 2352.

NCDEX accredited warehouses soybean stocks rose 433 tonnes to 2839 tonnes.

At the Indore spot market in top producer MP, soybean gained 17 Rs to 2239Re 100 kgs.