Soyabean yesterday we have seen that market has moved -0.9% pedalling from initial advances on profit taking. A lack of fresh supportive news and the absence of aggressive speculative buying that propelled prices in prior sessions created some nervousness in the market to spark some profit taking. At the Indore spot market in top producer MP, soybean gained 11 Rs to 2190Re 100 kgs. Market has opened at 2240 & made a low of 2210 versus the day high of 2277. The total volume for the day was at 173210 lots and the open interest was at 117400.Support for soyabean is at 2190 below that could see a test of 2167. Resistance is now seen at 2257 above that could see a resistance of 2301.

Trading Ideas:

Soyabean trading range is 2167-2301.

Soyabean settled weak pedalling from initial advances on profit taking

Soyabean is taking resistance at 2257 and support is seen at 2190.

Spread between Soyabean NOV & DEC contracts yesterday traded in the range of 27 to 52.

At the Indore spot market in top producer MP, soybean gained 11 Rs to 2190Re 100 kgs.