Soybean climbed on Saturday on lower-level buying, thin output estimates and firm global markets but pared all its gains and settled flat on profit booking. U. S. soybean futures were trading higher on Friday supported by rising demand for the oilseed, led by China, prompting the USDA to trim its ending stock estimate. Soyabean yesterday we have seen that market has moved 0.04%.

Market has opened at 2366 & made a low of 2364 versus the day high of 2393. The total volume for the day was at 20710 lots and the open interest was at 59000. Support for soyabean is at 2361 below that could see a test of 2348. Resistance is now seen at 2390 above that could see a resistance of 2406.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2320-2430

SOYABEAN PARED ALL ITS GAINS AND SETTLED FLAT ON PROFIT BOOKING

SELL SOYBEAN DEC @ 2400-2410 SL 2428 TGT 2378-2355-2340.NCDEX

NOW RES IS AT 2390 AND TAKING SUPPORT OF 2361 LEVEL.

IN INDORE SPOT PRICES GAINED BY 51 RUPEES TO END AT 2351 RUPEES PER 100 KG.