#1 Soya Bean Update

SoyaBean Indore Ncdex has seen some straight vertical upside move from 2872-3703. It resisted near to a downward sloping resistance line. Currently it is trading below 100 DMA which is at 3553 i.e., it suggest a weak trend below the said level. Today SoyaBean is trading below short term moving averages adding a weak trend characteristics. We expect it to correct in near term.

Strategy: Short SoyaBeanIDR (Oct) NCDEX with SL of 3705 and tgts 3386/3288/3190/3050 All the levels are closing basis.

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