Soyabean settled with losses Saturday tracking weak international market. In the long term the bears may continue to capture the market amid negative cues like higher production of soybean in Brazil and Argentina, higher ending stock and recovering dollar. Soyabean yesterday we have seen that market has moved -1.59%.

Market has opened at 2230.5 & made a low of 2196.5 versus the day high of 2230.5. The total volume for the day was at 74220 lots and the open interest was at 317160. Support for soyabean is at 2186 below that could see a test of 2174. Resistance is now seen at 2220 above that could see a resistance of 2242.

Trading Ideas:

Soyabean trading range 2145-2245

Soyabean settled with losses tracking weak international market

Now soyabean will get resistance at 2112.

Soyabean is getting support at 2186 level.

In Indore spot prices fell by 27 rupees to 2168 rupees per 100 kg.

BUY SOYABEAN FEB @ 2160 SL 2138 TGT 2178-2195-2220.NCDEX