Soyabean yesterday we have seen that market has moved -0.19%. Market has opened at 2144 & made a low of 2133 versus the day high of 2158. The total volume for the day was at 97280 lots and the open interest was at
145630. Support for soyabean is at 2136 below that could see a test of 2122. Resistance is now seen at 2161 above that could see a resistance of 2172.

Trading Ideas:

Soyabean trading range is 2154-2186.

Soyabean ended higher as low arrivals and profit booking after last week’s sell off

Stock of soybean is 20136 metric tonnes at NCDEX accredited warehouses as on 2nd February

Soyabean today will face resistance at 2170 level where selling pressure will be seen for support 2120 level

Overall outlook is bearish on poor export demand and higher than expected production globally

SELL SOYABEAN MAR @ 2190 SL 2216 TGT 2170-2148-2126.NCDEX