Wheat yesterday traded with the negative node and settled -0.39% down at 1368. Australia's wheat exports soared 20% to 919,000 tonnes in November, the second month of the country's marketing year. In Delhi wheat prices dropped -21.75 rupee to end at 1383.25 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1365 after opening at 1372, and finally settled at 1368. For today's session market is looking to take support at 1360.3, a break below could see a test of 1352.7 and where as resistance is now likely to be seen at 1380.3, a move above could see prices testing 1392.7.

Trading Ideas:

Wheat trading range is 1352.6-1392.6.

Wheat yesterday traded with the negative node and settled -0.39% down

Wheat is having resistance at 1380.3 and support at 1360.3 level.

Australia's wheat exports soared 20% to 919,000 tonnes in November

SELL WHEAT FEB @ 1370 SL 1375 TGT 1365-1362-1358.NCDEX

In Delhi wheat prices dropped-21.75 rupee to end at 1383.25 rupees per 10 kg.