Soyabean yesterday we have seen that market has moved 1.63% tailing gains in the global markets and on lower-level buying, though weak exports and higher stocks weighed. In the Indore spot market, soybean rose by 17 rupees to 1,891 rupees per 100 kg. Market has opened at 1908 & made a low of 1908 versus the day high of 1933. The total volume for the day was at 48510 lots and the open interest was at 123390.Support for soyabean is at 1914 below that could see a test of 1899. Resistance is now seen at 1939 above that could see a resistance of 1949.

Trading Ideas:

Soyabean trading range is 1899-1949.

Soyabean ended higher on lower-level buying

Resistance for the soyabean is at 1939 and support is at 1914.

Yesterday we have seen that open interest rose by 10550 and volume by 30580

In Indore spot prices rose 17 rupees and settled at 1,891 rupees per 100 kg

SELL SOYABEAN AUG BELOW 1905 SL 1925 TGT 1890-1870.NCDEX