Soyabean yesterday we have seen that market has moved 0.32% as there is healthy exports demand for Indian soymeal. The total arrivals of soyabean were 0.90-0.95 lakh bags at Madhya Pradesh and Maharashtra were reported at 0.81-1 lakh bags. At the Indore spot market in top producer MP, soybean gained 28 Rs to 2391Re 100 kgs. Market has opened at 2495 & made a low of 2483 versus the day high of 2512. The total volume for the day was at 109780 lots and the open interest was at 208320.Support for soyabean is at 2485 below that could see a test of 2470. Resistance is now seen at 2514 above that could see a resistance of 2528.

Trading Ideas:

Soyabean trading range is 2470-2528.

Soyabean gained as there is healthy exports demand for Indian soymeal.

Soyabean is taking resistance at 2514 and support is seen at 2485.

NCDEX accredited warehouses soyabean stocks rose 54 tonnes to 11606 tonnes.

At the Indore spot market in top producer MP, soybean gained 28 Rs to 2391Re 100 kgs.

BUY SOYABEAN FEB  @ 2490 SL 2470 TGT 2512-2538.NCDEX