Soyabean hit a new contract high, helped by firm domestic demand, thin arrivals and strong global leads. The overall market still seems positive. Buying on dips appears a better option for day traders. Soyabean yesterday we have seen that market has moved 1.33%.

Market has opened at 2409 & made a low of 2409 versus the day high of 2449. The total volume for the day was at 87580 lots and the open interest was at 134090. Support for soyabean is at 2413 below that could see a test of 2391. Resistance is now seen at 2453 above that could see a resistance of 2471.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2370-2490

SOYABEAN HIT A NEW CONTRACT HIGH DUE TO FIRM DOMESTIC DEMAND AND STRONG GLOBAL LEADS

BUY SOYABEAN DEC @ 2420-2430 SL 2400 TGT 2458-2475-2490.NCDEX

NOW RES IS AT 2453 ABV THIS LOOKS TILL 2470-2490 LEVEL.

THIS COUNTER IS ALSO TRADING HIGH SOME PROFIT BOOKING CAN HIT IN EVE SESSION

IN INDORE SPOT PRICES GAINED BY 64 RUPEES TO 2393 RUPEES PER 100 KG.