Soyabean yesterday we have seen that market has moved -0.02% as bargain-buying outweighed pressure from higher stocks and good rainfall in oilseed-growing areas, which raised hopes of better output. In the Indore spot market, soybean rose by 15 rupees to 1,994 rupees per 100 kg. Market has opened at 2023 & made a low of 2005 versus the day high of 2032. The total volume for the day was at 64730 lots and the open interest was at 83060. Support for soyabean is at 2007 below that could see a test of 1993. Resistance is now seen at 2034 above that could see a resistance of 2047.

Trading Ideas:

Soyabean trading range is 1993-2047.

Soyabean settled lower as bargain-buying outweighed pressure from higher stocks

Resistance for the soyabean is at 2034 and support is at 2007.

Spread between Soyabean AUG & SEP contracts yesterday traded in the range of 6.5 to 13

In Indore spot prices gained by 15 rupees and settled at 1994 rupees per 100 kg.