Commodity	:	Wheat
Exchange	:	NCDEX
Perspective	:	Very Short Term

Technical Commentary:
„XCandlestick chart formation hints sellers support.
„XRSI is moving down in neutral zone indicating caution to the bulls.
„XMACD is steady in negative zone, hints sideways movement in the market.
„XClosing of prices below 9 & 18 days EMA also supports weak sentiments.
„XFundamentals are still unsupportive.
„XTrading range is 1160 to 1180
„XWheat futures are likely to trade range bound with weak bias in todayˇ¦s trading session.

Strategy: Sell from lower level.
Intraday Supports & Resistances S2 S1 PCP R1 R2
Wheat NCDEX July 1160 1171 1172.6 1178 1195
Intraday Trade Call Call Entry T1 T2 SL
Wheat NCDEX July Sell below 1174 1170 1168 1177.4
Do not carry forward the position until the next day.