Soybean snapped a three-session losing streak to jump two percent as improved spot demand prompted bargain-hunting. In Nagpur prices rose by 4 rupees to 2,221 rupees. Malaysian crude palm oil futures ended slightly lower, recouping most of the day's 2.2 percent loss as investors moved to cover their short positions in an oversold market.

Soyabean yesterday we have seen that market has moved 1.91%. Market has opened at 2185 & made a low of 2185 versus the day high of 2248. The total volume for the day was at 117740 lots and the open interest was at 301920. Support for soyabean is at 2200 below that could see a test of 2161. Resistance is now seen at 2263 above that could see a resistance of 2287.

Trading Ideas:

Soyabean trading range 2190-2280

Soyabean ended almost 2% higher on improved spot demand

Malaysian CPO futures ended slightly lower, recouping most of the day's 2.2% loss.

As investors moved to cover their short positions in an oversold market.

In Indore spot prices edge down by a rupee by to 2167 rupees per 100 kg.

BUY SOYABEAN FEB ABV 2250 SL 2238 TGT 2270-2295-2315. NCDEX