Wheat yesterday traded with the positive node and settled 0.33% up at 1281.8. Indian government will free 2.5 million tonnes of grains from its stocks for sale to states, Farm Minister Sharad Pawar had said earlier. India grows only one wheat crop a year, with planting in October and harvesting during March-April. In Delhi wheat prices gained 1.85 rupee to end at 1302.5 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1276.6 after opening at 1277, and finally settled at 1281.8. For today's session market is looking to take support at 1278.3, a break below could see a test of 1274.7 and where as resistance is now likely to be seen at 1283.7, a move above could see prices testing 1285.5.

Trading Ideas:

Wheat trading range is 1274.3-1285.1.

Wheat yesterday traded with the positive node and settled 0.33%

Wheat is having resistance at 1285.7 and support at 1276.3 level.

Indian government will free 2.5 million tonnes of grains from its stocks for sale to states

In Delhi wheat prices gained1.85 rupee to end at 1302.5 rupees per 10 kg.