Soyabean yesterday we have seen that market has moved 1.19% triggered by fresh buying by traders in tandem with firm global cues. Fall in supply and strong demand of soymeal from export houses, also influenced the trading activity. Concerns over soybean crop in Argentina, the world's third largest soybean exporter, a jump in oilmeal exports and lower vegoil imports in November also supported the upside. At the Indore spot market in top producer MP, soybean gained 20 Rs to 2222Re 100 kgs. Market has opened at 2270 & made a low of 2270 versus the day high of 2292. The total volume for the day was at 87790 lots and the open interest was at 187200.Support for soyabean is at 2277 below that could see a test of 2263. Resistance is now seen at 2299 above that could see a resistance of 2307.

Trading Ideas:

Soyabean trading range is 2262-2306.

Soyabean ended higher triggered by fresh buying in tandem with firm global cues

Soyabean is taking resistance at 2308 and support is seen at 2277.

NCDEX accredited warehouses soyabean stocks rose 150 tonnes to 10376 tonnes.

At the Indore spot market in top producer MP, soybean gained 20 Rs to 2222Re 100 kgs.

BUY SOYABEAN JAN @ 2275 SL 2255 TGT 2300.NCDEX