May 27, 2011

Wheat NCDEX Trade Tips for 27 May

The MCX and NCDEX prices of wheat on yesterday seen to be traded at a positive node which 0.23% up at 1212.4 levels at NCDEX spot market. The wheat production reached to 109.64 lakh tonnes of Wheat till 24th May whereas 102.17 lakh tonnes wheat procured last year.
As according to new reports 10964631 tonnes of wheat Government agencies procured 108.77 lakh tonnes of wheat (99.4%) till date whereas private traders procured 60999 tonnes (0.6%) of wheat.
In NCDEX Delhi market the prices of wheat dropped -4.8 rupee to end at 1192.1 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1206 after opening at 1210, and finally settled at 1212.4.
NCDEX wheat 
Support:1206.9 Rs, 
Test:1201.5 Rs where as 
Resistance 1:1216.9 Level,Resistance 2:1221.5.
Wheat trading range is 1201.5-1221.5.
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