Commodity	:	Wheat
Exchange	:	NCDEX
Perspective	:	Very Short Term

Technical Commentary:
„XCandlestick chart formation hints buyers support.
„XRSI is moving up in neutral zone indicating caution to the bears.
„XMACD is moving up in negative zone, hints firmness in the market.
„XClosing of prices below 9 & 18 days EMA also supports weak sentiments.
„XFundamentals are still unsupportive.
„XIf price breeches 1180 level, it may test the level of 1190.
„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 1160 1170 1177 1180 1195
Intraday Trade Call Call Entry T1 T2 SL
Wheat NCDEX July Buy above 1175 1180 1182 1172
Do not carry forward the position until the next day.