Wheat yesterday traded with the negative node and settled -0.25% down at 1285.2 as traders stayed away from market despite of firm trend in spot market. In Delhi wheat prices gained 4.25 rupee to end at 1296.75 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1285 after opening at 1286, and finally settled at 1285.2. For today's session market is looking to take support at 1284.2, a break below could see a test of 1283.2 and where as resistance is now likely to be seen at 1287, a move above could see prices testing 1288.8.

Trading Ideas:

Wheat trading range is 1283.3-1288.9.

Wheat ended flat as traders stayed away from market

Wheat is having resistance at 1290.20 and support at 1281.2 level.

Spread between Wheat DEC & JAN contracts yesterday traded in the range of 23.4 to 26.

In Delhi wheat prices gained4.25 rupee to end at 1296.75 rupees per 10 kg.