Swastika Investmart Limited

Yesterday Soybean closed at 3558. After breaking its main support level at 3600. Now Soybean Oct. futures trading at lower level & showing heavy pressure from upside. Support for commodity is placed around 3530.Momentum indicator RSI is currently trending below 30 days moving average & showing pressure from upside that indicates sideways to bearish biased trend in the commodity.

Traders can take a sell position around 3530 with a stop loss of 3570 for the day target 3490+. OR Traders can take a buy position above 3580 with a stop loss of 3545 for the day target 3620+.

Yesterday, Chana closed at 2775. From an intraday perspective, chana Aug. contract will trade on a neutral to bullish note. Chana shows a heavy support around 2765 so it can take an upside move & a resistance is seen around 2825.

On the intraday chart, momentum indicator RSI is at the  30 days moving average & showing strength in commodity market for upside rally that indicating a bullish to  sideways trend in the commodity.

Intraday traders can take a buy position in chana above 2785 or 2800 with a stop loss at 2760 & a day target of 2840.

This Blog was originally distributed on Research4u.co.in.