Soybean ended firm due to demand in the physical market is improving at lower levels. At the Indore spot market in top producer Madhya Pradesh, soybean edged up by 10 rupees to 1,946 rupees. Soyabean yesterday we have seen that market has moved 0.46%. Market has opened at 1951 & made a low of 1950.5 versus the day high of 1970. The total volume for the day was at 22820 lots and the open interest was at 125500.Support for soyabean is at 1951 below that could see a test of 1941. Resistance is now seen at 1971 above that could see a resistance of 1980.

Trading Ideas:

Soyabean trading range is 1941-1980.

Soybean ended firm due to demand in the physical market is improving

Resistance for the soyabean is at 1971 and support is at 1951.

NCDEX accredited warehouses soyabean stocks gained by 1250 tonnes to 3563 tonnes.

In Indore spot prices gained 10 rupees to end at 1,946 rupees per 100 kg

BUY SOYABEAN JUNE @ 1960 SL 1942 TGT 1972-1985.NCDEX