Soybean extended losses into a third session tracking falling spot market, which was pressured by sluggish meal exports. At Indore spot market soybean prices dropped by 18 rupees to 2,079 rupees per 100 kg .However, firm international markets capped the downside.

Soyabean yesterday we have seen that market has moved -1.85%. Market has opened at 2133 & made a low of 2083 versus the day high of 2129. The total volume for the day was at 169570 lots and the open interest was at 268810. Support for soyabean is at 2079 below that could see a test of 2058. Resistance is now seen at 2125 above that could see a resistance of 2150.

Trading Ideas:

Soyabean trading range 2060-2140

Soybean extended losses tracking weak spot market

Resistance for the soyabean is at 2125 and support is at 2079 level

In Indore spot prices of soyabean dropped 18 rupees to 2,079 rupees per 100 kg

Yesterday we have seen that open interest has rose by 5260 lots.

SELL SOYABEAN FEB @ 2140 SL 2165 TGT 2122-2104-2080.NCDEX