Soyabean yesterday we have seen that market has moved -1.1% as profit-booking is emerging at higher levels. Fundamentals are still supporting the upside. The total arrivals of 1.25-1.30 lakh bags at Madhya Pradesh and Maharashtra were reported at 0.80-1lakh bags. At the Indore spot market in top producer MP, soybean gained 1 Rs to 2392Re 100 kgs. Market has opened at 2492 & made a low of 2470 versus the day high of 2510. The total volume for the day was at 104480 lots and the open interest was at 199180.Support for soyabean is at 2459 below that could see a test of 2445. Resistance is now seen at 2499 above that could see a resistance of 2525.

Trading Ideas:

Soyabean trading range is 2445-2525.

Soyabean ended lower as profit-booking is emerging at higher levels

Soyabean is taking resistance at 2499 and support is seen at 2459.

NCDEX accredited warehouses soyabean stocks fell 419 tonnes to 11187 tonnes.

At the Indore spot market in top producer MP, soybean gained 1 Rs to 2392Re 100 kgs.