Soyabean yesterday we have seen that market has moved -2.08% on profit-taking after gaining more than 4 percent in August with higher imports also weighing on sentiment. But, rising local demand festive demand limited losses. In the Indore spot market, soybean fell by 38 rupees to 2,085 rupees per 100 kg. Market has opened at 2167 & made a low of 2114 versus the day high of 2167. The total volume for the day was at 99050 lots and the open interest was at 151220. Support for soyabean is at 2102 below that could see a test of 2081. Resistance is now seen at 2155 above that could see a resistance of 2187.

Trading Ideas:

Soyabean trading range is 2081-2187.

Soyabean ended weak on profit-taking after gaining in August

Resistance for the soyabean is at 2155 and support is at 2102.

NCDEX accredited warehouses soyabean stocks rose 153 tonnes to 1072 tonnes.

In Indore spot prices fell 38 rupees and settled at 2085 rupees per 100 kg