Soybean rose on bargain buying driven by a recovery in overseas markets and thin arrivals at home. U.S. soybeans futures firmed amid broad-based gains in the commodity and equity markets, but soy futures are likely to come under pressure on record supplies expected from South America this year Soyabean yesterday we have seen that market has moved 1.97%. Market has opened at 2092 & made a low of 2092 versus the day high of 2128. The total volume for the day was at 86420 lots and the open interest was at 203830.Support for soyabean is at 2103 below that could see a test of 2079. Resistance is now seen at 2139 above that could see a resistance of 2151.

Trading Ideas:

Soyabean trading range is 2079-2151.

Soybean rose on bargain buying driven by a recovery in overseas markets

Resistance for the soyabean is at 2139 and support is at 2103 level

In Indore spot prices of soyabean gained by 15 rupees to 2,096 rupees per 100 kg

NCDEX accredited warehouses soybean stocks seen at 139 tonnes as on Feb 20.

SELL SOYABEAN MAR BELOW 2120 SL 2142 TGT 2100-2084-2062.NCDEX