Soyabean yesterday we have seen that market has moved 0.58% on bargain-buying, but fundamentals are not supporting upside. Spot demand is weak. Sowing of soybean has also accelerated. In the Indore spot market, soybean rose by 3 rupees to 1,875 rupees per 100 kg. Market has opened at 1886 & made a low of 1886 versus the day high of 1904.5. The total volume for the day was at 29550 lots and the open interest was at 111890. Support for soyabean is at 1889 below that could see a test of 1878. Resistance is now seen at 1908 above that could see a resistance of 1915.

Trading Ideas:

Soyabean trading range is 1878-1915.

Soyabean yesterday ended positive on bargain-buying

Sowing of soybean has also accelerated which weighed on prices

Resistance for the soyabean is at 1915 and support is at 1878.

In Indore spot prices rose 3 rupees and settled at 1,875 rupees per 100 kg

SELL SOYABEAN AUG @ 1915 SL 1930 TGT 1900-1878.NCDEX