Soybean eased as demand remained poor in physical market amid weakness in overseas markets. In the Indore spot market in top producer Madhya Pradesh, soybean price was steady at 2,000 rupees. Soyabean yesterday we have seen that market has moved -0.64%. Market has opened at 2025 & made a low of 2015 versus the day high of 2034. The total volume for the day was at 38070 lots and the open interest was at 148820.Support for soyabean is at 2011 below that could see a test of 2004. Resistance is now seen at 2030 above that could see a resistance of 2042.

Trading Ideas:

Soyabean trading range is 2004-2042.

Soybean eased as demand remained poor in physical market

Resistance for the soyabean is at 2030 and support is at 2011.

Yesterday we have seen that open interest fell by 1970 and volume by 19120.

In Indore spot prices remained steady at 2000 rupees per 100 kg

SELL SOYABEAN MAY @ 2020 SL 2042 TGT 2005-1984.NCDEX