Soybean ended higher as bargain buying and thin arrivals in spot market outweighed a drop in meal exports. At the Indore spot market soybean eased by 2 rupees at 1,958 rupees. Soyabean yesterday we have seen that market has moved 0.61%. Market has opened at 1953.5 & made a low of 1953 versus the day high of 1978. The total volume for the day was at 36450 lots and the open interest was at 119710.Support for soyabean is at 1953 below that could see a test of 1941. Resistance is now seen at 1978 above that could see a resistance of 1991.

Trading Ideas:

Soyabean trading range is 1941-1991.

Soybean ended higher as per expectation on bargain buying

Resistance for the soyabean is at 1978 and support is at 1953.

Yesterday we have seen that open interest rose by 1290 and volume fell by 11430

In Indore spot prices fell 2 rupees at 1,958 rupees per 100 kg

BUY SOYABEAN JUNE @ 1960 SL 1942 TGT 1978-1990.NCDEX