Soyabean yesterday we have seen that market has moved 0.98% on the back of firm global markets cue. Better export demand of soymeal also helped to enthused trading sentiments. At the Indore spot market in top producer MP, soybean gained 14 Rs to 2437Re 100 kgs. Market has opened at 2455 & made a low of 2449 versus the day high of 2480. The total volume for the day was at 48400 lots and the open interest was at 155590. Support for soyabean is at 2454 below that could see a test of 2436. Resistance is now seen at 2485 above that could see a resistance of 2498.

Trading Ideas:

Soyabean trading range is 2437-2499.

Soyabean moved positive on the back of firm global markets cue

Soyabean is taking resistance at 2485 and support is seen at 2454.

NCDEX accredited warehouses soyabean stocks fell by 41 tonnes to 7291 tonnes.

At the Indore spot market in top producer MP, soybean gained 14 Rs to 2437Re 100 kgs.

BUY SOYABEAN FEB @ 2450-2460 SL 2440 TGT 2480-2498.NCDEX