Soyabean yesterday we have seen that market has moved 1.32% as lagging soybean sowing in the country raised concerns about output this year. In the Indore spot market, soybean rose by 13 rupees to 1,917 rupees per 100 kg. Market has opened at 1930.5 & made a low of 1922 versus the day high of 1956. The total volume for the day was at 41510 lots and the open interest was at 108010.Support for soyabean is at 1931 below that could see a test of 1910. Resistance is now seen at 1965 above that could see a resistance of 1978.

Trading Ideas:

Soyabean trading range is 1910-1978.

Soyabean ended positive as lagging sowing in country raised concerns about output

Resistance for the soyabean is at 1965 and support is at 1931.

Yesterday we have seen that open interest fell by 8430 and volume rose by 7410

In Indore spot prices gained 13 rupees to end at 1,917 rupees per 100 kg

BUY SOYABEAN JULY @ 1940-1950 SL 1918 TGT 1965-1980.NCDEX