Soybean extended losses due to weak domestic spot demand. Market is waiting for a bullish fundamental, but every week it is getting more and more bearish news. Soyabean yesterday we have seen that market has moved -1.07%.

Market has opened at 1972 & made a low of 1951 versus the day high of 1975. The total volume for the day was at 58980 lots and the open interest was at 149870.Support for soybean is at 1946 below that could see a test of 1936. Resistance is now seen at 1970 above that could see a resistance of 1984.

Trading Ideas:

Soyabean trading range is 2007-2065.
Soybean extended losses due to weak domestic spot demand
Resistance for the soyabean is at 1970 and support is at 1946.
Yesterday we have seen that open interest seen at 149870 and volume at 58980 lots.
In Indore spot prices fell by 30 rupees and settled at 1998 rupees per 100 kg

SELL SOYABEAN APR @ 1980 SL 2005 TGT 1960-1942-1926.NCDEX

Courtesy: Kedia Commodities

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