Soyabean yesterday we have seen that market has moved -0.33% as hope of high import of veg oil is exerting pressure on the prices. At the Indore spot market in top producer Madhya Pradesh, soybean was down 20 rupees to 1,957 rupees 100 kg. Market has opened at 1956.5 & made a low of 1944.5 versus the day high of 1960. The total volume for the day was at 27220 lots and the open interest was at 141060.Support for soyabean is at 1942 below that could see a test of 1935. Resistance is now seen at 1957 above that could see a resistance of 1966.

Trading Ideas:

Soyabean trading range is 1935-1966.

Soyabean moved down as hope of high import of veg oil is exerting pressure

Resistance for the soyabean is at 1966 and support is at 1935.

Yesterday we have seen that open interest by fell 600 and volume by 8050

In Indore spot prices fell 20 rupees to end at 1,957 rupees per 100 kg

BUY SOYABEAN JULY @ 1935-1940 SL 1920 TGT 1956-1970.NCDEX