Soyabean yesterday we have seen that market has moved 0.58% in line with firm overseas markets cue. Traders preferred to raise their holdings on the back of higher global markets sentiment. Reduced supply and pick up in demand in physical markets also helped to push up the trading sentiments. In the Indore spot market, soybean rose by 30 rupees to 2,126 rupees per 100 kg. Market has opened at 2165 & made a low of 2161 versus the day high of 2185. The total volume for the day was at 101340 lots and the open interest was at 135950.Support for soyabean is at 2159 below that could see a test of 2148. Resistance is now seen at 2183 above that could see a resistance of 2196.

Trading Ideas:

Soyabean trading range is 2147-2195.

Soyabean ended positive in line with firm overseas markets cue.

Resistance for the soyabean is at 2183 and support is at 2159.

Spread between Soyabean SEP & OCT contracts yesterday traded in the range of -24 to -15.

In Indore spot prices gained 30 rupees and settled at 2126 rupees per 100 kg