Wheat yesterday traded with the negative node and settled -0.4% down at 1210. Haryana has recorded the second highest wheat arrival of over 68.06 lakh tonne in the ongoing wheat procurement season, while wheat crop is still arriving in grain markets, though in small quantity. The highest wheat arrival of 69.24 lakh tonne was recorded in the year 2009-10. In Delhi wheat prices gained 3.15 rupee to end at 1196.9 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1207 after opening at 1220, and finally settled at 1210. For today's session market is looking to take support at 1204.7, a break below could see a test of 1199.3 and where as resistance is now likely to be seen at 1217.7, a move above could see prices testing 1225.3.

Trading Ideas:

Wheat trading range is 1199.3-1225.3.

Haryana has recorded 2nd highest wheat arrival of over 68.06 lakh T in ongoing wheat procurement season

Wheat is having resistance at 1217.70 and support at 1204.70 level.

NCDEX accredited warehouses wheat stocks rose by 150 tonnes to 6207 tonnes.

In Delhi wheat prices gained3.15 rupee to end at 1196.9 rupees per 10 kg.