Swastika Investmart Limited

Yesterday Soybean closed at 3558. After breaking its main support level at 3600. Now Soybean Oct. futures making consolidation at lower level. Support for commodity is placed around 3530. Momentum indicator RSI is currently trending at 30 days moving average & showing consolidation that indicates sideways biased trend in the Ncdex commodity.

Investors can take a sell place approximately 3530 with a SL of 3570 for the day goal 3490+. OR Investors can take a buy spot greater than 3580 with a stop loss of 3545 for the day goal 3620+.

Yesterday, Chana Sep. closed at 2910. From an intraday perspective, chana Sep. contract will trade on a neutral to bullish note. Chana shows a heavy support around 2860 & yesterday take an upside move & non resistance is seen around 2940.On the intraday chart, momentum indicator RSI is at the 30 days moving average & showing strength in commodity for upside rally that indicating a bullish to sideways trend in the commodity.

Intraday investors can obtain a purchase spot in chana Sep. approximately 2890 with a SL at 2850 & a day goal of 2930+.

Ncdex Outlook: Soyabean the day goal 3620+