Commodity	:	GRAINS
Exchange	:	NCDEX
Perspective	:	Very Short Term

Technical Commentary:
„XCandlestick chart formation hints buyers support.
„XRSI is moving up in oversold zone indicating caution to the bears.
„XMACD is moving down in negative zone, hints weakness in the market.
„XClosing of prices below 9 & 18 days EMA also supports weak sentiments.
„XFundamentals are unsupportive.
„XIf price breeches 1175 level, it may test the level of 1185.
„XWheat futures are likely to trade range bound with firm bias in todayˇ¦s trading session.

Strategy: Buy from lower level.
Intraday Supports & Resistances S2 S1 PCP R1 R2
Wheat NCDEX July 1150 1165 1173 1175 1185
Intraday Trade Call Call Entry T1 T2 SL
Wheat NCDEX July Buy above 1170 1175 1178 1167.4
Do not carry forward the position until the next day.