Soyabean yesterday we have seen that market has moved -0.46% on selling by traders, in tandem with weak global markets cue. Bullish fundamental factors like thin arrivals and strong buying interest from crushers in the spot market supported prices. At the Indore spot market in top producer MP, soybean dropped -1 Rs to 2467Re 100 kgs. Market has opened at 2506 & made a low of 2485 versus the day high of 2522. The total volume for the day was at 87950 lots and the open interest was at 171360.Support for soyabean is at 2489 below that could see a test of 2468. Resistance is now seen at 2526 above that could see a resistance of 2542.
Soyabean trading range is 2466-2540.
Soyabean ended weak on selling by traders in tandem with weak global markets cue
Soyabean is taking resistance at 2526 and support is seen at 2489.
NCDEX accredited warehouses soyabean stocks stood at 7625 tonnes.
At the Indore spot market in top producer MP, soybean dropped -1 Rs to 2467Re 100 kgs.
BUY SOYABEAN FEB ABV 2510 SL 2490 TGT 2535-2556.NCDEDX