Soyabean yesterday traded with the positive node and settled 0.85% up at 2375.5 as support from international market had been seen as a weaker US dollar, talk of continued strong demand from China and inflationary concerns supported the market early today. Weakness in the other grains and forecasts for a little less heat in Argentina over the near-term was seen as factors which are limiting the upside. Traders also see the market as technically overbought. For today's session market is looking to take support at 2349, a break below could see a test of 2324 and where as resistance is now likely to be seen at 2392, a move above could see prices testing 2410.

Trading Ideas:

Soyabean trading range is 2326-2412.

Soyabean firm on international clues as a weaker dollar, talk of continued strong demand from China.

Weakness in the other grains and forecasts for a little less heat in Argentina limiting the upside.

Technically market is in overbot and resistance is at 2392 and support is at 2349.

At the Indore spot market in top producer MP, soybean dropped -2 Rs to 2304Re 100 kgs.

BUY SOYABEAN JAN @ 2370 SL 2356 TGT 2390-2410.NCDEX