Soyabean yesterday we have seen that market has moved 0.37% on short covering as traders squared their positions ahead of key monthly USDA report. At the Indore spot market in top producer Madhya Pradesh, soybean gained 8 rupees to 1,895 rupees 100 kgs. Market has opened at 1905 & made a low of 1902 versus the day high of 1919.5. The total volume for the day was at 56110 lots and the open interest was at 134890.Support for soyabean is at 1899 below that could see a test of 1892. Resistance is now seen at 1917 above that could see a resistance of 1927.

Trading Ideas:

Soyabean trading range is 1892-1927.

Soyabean yesterday market has moved 0.37% on short covering

Resistance for the soyabean is at 1917 and support is at 1892.

Yesterday we have seen that open interest rose by 9150 and volume fell by 10360

In Indore spot prices gained 8 rupees to end at 1,895 rupees per 100 kg

BUY SOYABEAN JULY ABV 1905 SL 1890 TGT 1922-1938.NCDEX