Wheat yesterday traded with the positive node and settled 0.14% up at 1331. Some pressure had been seen from the spot market also which closed at
601 that is down by -8rs. In yesterday's trading session Wheat has touched the low of 1328 after opening at 1334, and finally settled at 1331. For today's session market is looking to take support at 1328, a break below could see a test of 1325 and where as resistance is now likely to be seen at 1334, a move above could see prices testing 1337. Spread between Wheat JAN & FEB contracts yesterday ended at 7.40. Spread yesterday traded in the range of 6 to 9.

Trading Ideas:

Wheat trading range is 1325-1337.

Wheat yesterday traded with the positive node and settled 0.14% up

Wheat is having resistance at 1334 and support at 1328 level.

Spread between Wheat JAN & FEB contracts yesterday traded in the range of 6 to 9.

BUY WHEAT JAN @ 1328-1330 SL 1324 TGT 1336-1340.NCDEX

In Delhi wheat prices dropped-0.9 rupee to end at 1311 rupees per 10 kg.