Soyabean yesterday ended flat due to lackluster demand and selling pressure. The prices has come under selling pressure due to its recent rise on the back of increasing export demand, though now International market also lacks any fresh news that can give direction to the market in either side. At the Indore spot market in top producer MP, soybean gained 1 Rs to 2192Re 100 kgs. Market has opened at 2256 & made a low of 2247 versus the day high of 2279.5. The total volume for the day was at 80690 lots and the open interest was at 220840. Support for soyabean is at 2246 below that could see a test of 2230. Resistance is now seen at 2278 above that could see a resistance of 2295.

Trading Ideas:

Soyabean trading range is 2231-2296.

Soyabean ended flat due to lackluster demand and selling pressure

Soyabean is taking resistance at 2278 and support is seen at 2246.

NCDEX accredited warehouses soyabean stocks rose 121 tonnes to 9049 tonnes.

At the Indore spot market in top producer MP, soybean gained 1 Rs to 2192Re 100 kgs.