After witnessing profit booking at higher level in last trading session, Soyabean Prices at NCDEX, May contract trades up on fresh buying sentiments in today's trading session.
It is trading in the range of 3483-3527 per quintal in today's trading session till now.
Soyabean prices trading at NCDEX, May contract is having short term support at 3440 level and resistance is seen at 3570.
Chinese import demand has supported the International market. Further, significant reduction in the Soybean production in South American Countries like Argentina and Brazil has given enough support to the bulls.
Technically, 14 days RSI on Daily chart at 82 indicates that it is in over bought zone.
Some profit booking is expected in near term. However over all trend is likely to remain firm for near term.
‘’Traders should look for the opportunity to buy at lower levels. ”,
It is trading in the range of 3483-3527 per quintal in today's trading session till now.
Soyabean prices trading at NCDEX, May contract is having short term support at 3440 level and resistance is seen at 3570.
Chinese import demand has supported the International market. Further, significant reduction in the Soybean production in South American Countries like Argentina and Brazil has given enough support to the bulls.
Technically, 14 days RSI on Daily chart at 82 indicates that it is in over bought zone.
Some profit booking is expected in near term. However over all trend is likely to remain firm for near term.
‘’Traders should look for the opportunity to buy at lower levels. ”,
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