Wheat yesterday traded with the positive node and settled 0.44% up at 1329. In Delhi wheat prices gained 0.4 rupee to end at 1311.9 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1318 after opening at 1326.6, and finally settled at 1329. For today's session market is looking to take support at 1320.7, a break below could see a test of 1312.3 and where as resistance is now likely to be seen at 1334.7, a move above could see prices testing 1340.3. Spread between Wheat JAN & FEB contracts yesterday ended at 7.60. Spread yesterday traded in the range of 6 to 12.

Trading Ideas:

Wheat trading range is 1312.4-1340.4.

Wheat yesterday traded with the positive node and settled 0.44% up

Wheat is having resistance at 1334.7 and support at 1320.7 level.

Spread between Wheat JAN & FEB contracts yesterday traded in the range of 6 to 12.

WHEAT LOOK TO TRADE IN THE RANGE 1320-1330 LEVEL. WAIT FOR FRESH ENTRY.

In Delhi wheat prices gained0.4 rupee to end at 1311.9 rupees per 10 kg.