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Agri Weekly Report: Motilal Oswal

According to Motilal Oswal, NCDEX Soya bean has been trading in consolidation zone at the moment and a break above Rs.4100 level is likely to result in the continuation of previous trend (Bullish).

September 16, 2020 / 03:58 PM IST

Motilal Oswal's report on Agri Weekly

NCDEX Soya bean has been trading in consolidation zone at the moment and a break above Rs.4100 level is likely to result in the continuation of previous trend (Bullish). On the lower side support is placed at Rs.3700 level while immediate resistance is placed at Rs.3970 level while major resistance is placed at Rs.4100 level.

Outlook

If the commodity manages to give daily close above Rs.4100 level the it is likely to result in the commodity moving further higher towards Rs.4220 – 4300levels. Till breakout takes place, Consolidation is likely to continue in the commodity.