Soybean ended flat on higher stocks, though the firmness in the U.S. market limited the downside. At the Indore spot market in top producer Madhya Pradesh, soybean edged higher by 6 rupees to 1,973 rupees. Soyabean yesterday we have seen that market has moved 0.05%. Market has opened at 1975 & made a low of 1971 versus the day high of 1986.5. The total volume for the day was at 30630 lots and the open interest was at 122870.Support for soyabean is at 1970 below that could see a test of 1963. Resistance is now seen at 1985 above that could see a resistance of 1994.

Trading Ideas:

Soyabean trading range is 1963-1994.

Soybean ended flat on higher stocks but firmness in the U.S. market limited the fall

Resistance for the soyabean is at 1985 and support is at 1963.

Yesterday we have seen that open interest fell by 280 and volume rose by 17140

In Indore spot prices jumped 6 rupees at 1,973 rupees per 100 kg

SELL SOYABEAN JUNE @ 1985-1990 SL 2005 TGT 1970-1960.NCDEX