Soybean ended steady after extending losses to an eighth straight session tracking weak overseas markets and sluggish spot demand on falling meal exports. U.S. soybean fell half a percent following a 3.2 percent decline in the previous session as commodity markets suffered additional pressure from China's moves to cool growth by raising bank reserve norms. Soyabean yesterday we have seen that market has moved 0.16%. Market has opened at 2243 & made a low of 2197 versus the day high of 2257. The total volume for the day was at 69280 lots and the open interest was at 70870.Support for soyabean is at 2213 below that could see a test of 2175. Resistance is now seen at 2273 above that could see a resistance of 2295.

Trading Ideas:

Soyabean trading range 2210-2290

Soybean ended steady after extending losses tracking weak overseas markets

Now soyabean will get resistance at 2273.

Soyabean is getting support at 2238 level.

In Indore spot prices fell by 39 rupees to 2196 rupees per 100 kg

SHORT TERM: BUY SOYABEAN JAN @ 2240-2250 SL 2220 TGT 2264-2278-2290.NCDEX