Motilal Oswal's report on Agri Weekly
NCDEX Soyabean prices has been making higher peaks and higher troughs since past few days, which indicates the strength in the prices of the commodity Going ahead, Rs.5120 remains strong support for the commodity and bias remains bullish as long as it is trading above the support zone. Intermediate support is placed in the range of Rs.5270-5300 levels. On the higher side the commodity is likely to move towards Rs.5570 – 5770levels.
Outlook
Also, RSI is sustaining well above the mid-point of 50 level which indicates strength in the prices of the commodity. Thus, buying on dips is recommended.
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