Wheat yesterday traded with the positive node and settled 1.73% up at 1221 supported by gains in spot market. As much as 2,29,269 metric tonnes of wheat arrived in various mandis of Haryana as compared to 56,937 metric tonnes of wheat which were received on this day last year. The total arrival of wheat in the state has crossed 54.05 lakh metric tonnes, a spokesman of Food and Supplies Department said. Steady arrivals of around 60-70 lakh bags were daily reported in all the major mandies. In Delhi wheat prices gained 3.2 rupee to end at 1183.2 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1201 after opening at 1201, and finally settled at 1221. For today's session market is looking to take support at 1207, a break below could see a test of 1193 and whereas resistance is now likely to be seen at 1229, a move above could see prices testing 1237.

Trading Ideas:

Wheat trading range is 1193-1237.

As much as 2,29,269mt of wheat arrived in various mandis of Haryana as compared to 56,937mt

Wheat is having resistance at 1229 and support at 1207 level.

Steady arrivals of around 60-70 lakh bags were daily reported in all the major mandies.

In Delhi wheat prices gained3.2 rupee to end at 1183.2 rupees per 10 kg.