Soyabean yesterday we have seen that market has moved 1.03% as weak rupee helped the market to erase bearish cues from overseas markets. At the Indore spot market in top producer Madhya Pradesh, soybean edged up by 5 rupees to 1,975 rupees. Spot market was also witnessing improvement in demand. Market has opened at 1995 & made a low of 1993 versus the day high of 2020. The total volume for the day was at 29790 lots and the open interest was at 114140.Support for soyabean is at 1999 below that could see a test of 1983. Resistance is now seen at 2026 above that could see a resistance of 2037.

Trading Ideas:

Soyabean trading range is 1983-2037.

Soyabean moved up as weak rupee helped market to erase bearish cues from overseas markets

Resistance for the soyabean is at 2026 and support is at 1999.

Yesterday we have seen that open interest fell by 600 and volume by 2130

In Indore spot prices rose 6 rupees to end at 1,976 rupees per 100 kg

SELL SOYABEAN JUNE BELOW 2010 SL 2025 TGT 1998-1975.NCDEX