Wheat yesterday traded with the positive node and settled 0.09% up at 1277.6 on pick up in demand against restricted arrivals. The sowing has progressed fast in the current week. Wheat has been sown in over 207 lakh hectare. In Delhi wheat prices gained 3.85 rupee to end at 1300.65 rupees per 10 kg.  In yesterday's trading session Wheat has touched the low of 1276 after opening at 1276, and finally settled at 1277.6. For today's session market is looking to take support at 1276.3, a break below could see a test of 1275.1 and where as resistance is now likely to be seen at 1278.5, a move above could see prices testing 1279.5.

Trading Ideas:

Wheat trading range is 1275.1-1279.5.

Wheat ended firm on pick up in demand against restricted arrivals

Wheat is having resistance at 1280.80 and support at 1276.60 level.

NCDEX accredited warehouses wheat stocks fell 10 tonnes to 4327 tonnes.

In Delhi wheat prices gained3.85 rupee to end at 1300.65 rupees per 10 kg.