Commodity Outlook for Soybean by KediaCommodity

Genetically Modified Soya Bean Can Cut Heart Attack RiskSoybean eased weighed by profit-taking after gaining 6.8 percent since the start of November, but thin arrivals and firm domestic demand kept the downside limited. Despite being the peak season, arrivals were not picking up due to unseasonal rains in central India, the main growing region.

Soyabean yesterday we have seen that market has moved -0.31%. Market has opened at 2437 & made a low of 2415 versus the day high of 2449. The total volume for the day was at 56160 lots and the open interest was at 123180. Support for soyabean is at 2410 below that could see a test of 2396. Resistance is now seen at 2444 above that could see a resistance of 2464.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2360-2480

SOYBEAN EASED WEIGHED BY PROFIT-TAKING AFTER GAINING 6.8% SINCE START OF NOVEMBER

SELL SOYABEAN DEC @ 2430-2440 SL 2456 TGT 2412-2386-2370.NCDEX

NOW RES IS AT 2444 AND TAKING SUPPORT OF 2410 LEVEL.

IN INDORE SPOT PRICES ROSE BY A RUPEE TO 2397 RUPEES PER 100 KG.