Soyabean yesterday we have seen that market has moved -1.9% on profit booking and also lack of fresh supportive news from spot market weighed Saturday after prices rose Friday tailing gains in overseas market. At the Indore spot market in top producer MP, soybean dropped -24 Rs to 2162Re 100 kgs. Market has opened at 2215 & made a low of 2185 versus the day high of 2215. The total volume for the day was at 77200 lots and the open interest was at 118820.Support for soyabean is at 2176 below that could see a test of 2166. Resistance is now seen at 2206 above that could see a resistance of 2226.

Trading Ideas:

Soyabean trading range is 2166-2226.

Soyabean settled lower on profit booking and due to lack of cues from spot weighed

Soyabean is taking resistance at 2206 and support is seen at 2166.

Spread between Soyabean NOV & DEC contracts yesterday traded in the range of 32.5 to 35.

At the Indore spot market in top producer MP, soybean dropped -24 Rs to 2162Re 100 kgs.