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.
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.