NCDEX Soybean likely to trade sideways

SOYABEAN NCDEX (Dec 2014)

Advice :- Sell,Entry:-3315-3320,Stop Loss :-3350,TGT1/TGT2:-3260/3250

Pivot point :- 3285,S1:-3266,S2:-3249,S3:-3213

Close :- 3284,R1:-3302 ,R2:-3321, R3:-3357

MUMBAI(Commodity): Soybean futures may trade sideways. Crop concerns, soya oil demand and delayed harvest may support prices. Expectation on higher output of soya by USDA report is likely to prove negative for Soybean futures.

Soybean December contract gained down by 0.76% to 3309 levels on Monday(11.50am) at NCDEX.

NCDEX Soya bean December contract  likely to trade Sideways

• Short term support is seen at 3210 and resistance at 3430. 
• Intra day support is seen at 3270 and and resistance at 3340.

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