Soyabean ended weak on Saturday as poor demand, ample supplies and weakness in overseas markets weighed on the market. Demand is not there at higher levels. It is forcing stockists to release stocks at lower level. At Indore spot market soybean prices fell by 23 rupees to 2,052 rupees per 100 kg. Soyabean yesterday we have seen that market has moved -1.45%. Market has opened at 2090 & made a low of 2065 versus the day high of 2090. The total volume for the day was at 76010 lots and the open interest was at 255920.Support for soyabean is at 2059 below that could see a test of 2050. Resistance is now seen at 2084 above that could see a resistance of 2100.

Trading Ideas:

Soyabean trading range 2020-2110

Soyabean ended weak on Saturday as poor demand and ample supplies

Resistance for the soyabean is at 2084 and support is at 2054 level

In Indore spot prices of soyabean dropped by 23 rupees to 2,052 rupees per 100 kg

On Saturday we have seen that open interest has fell by 12890 lots.

SELL SOYABEAN FEB @ 2125 SL 2148 TGT 2108-2090.NCDEX