Soyabean yesterday we have seen that market has moved 0.36% as keeping its low level buying momentum going. Sowing is going steadily in leading soybean producing state Maharashtra and spells of rainfall in Madhya Pradesh may also dampen the sentiment in soybean prices. In the Indore spot market, soybean rose by 11 rupees to 1,916 rupees per 100 kg. Market has opened at 1944 & made a low of 1937 versus the day high of 1965. The total volume for the day was at 37580 lots and the open interest was at 124100.Support for soyabean is at 1940 below that could see a test of 1924. Resistance is now seen at 1968 above that could see a resistance of 1980.

Trading Ideas:

Soyabean trading range is 1916-1972.

Soyabean ended firm as keeping its low level buying momentum going

Resistance for the soyabean is at 1968 and support is at 1940.

Yesterday we have seen that open interest fell by 500 and volume by 19280

In Indore spot prices rose 11 rupees and settled at 1,916 rupees per 100 kg

BUY SOYABEAN AUG @ 1940 SL 1928 TGT 1956-1970.NCDEX