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Agri Weekly Report: Motilal Oswal

According to Motilal Oswal, As seen on 240-min chart, NCDEX Soybean breached the consolidation range and is indicating further weakness in price.

September 20, 2021 / 05:56 PM IST
Representative image

Representative image


Motilal Oswal's report on Agri Weekly


As seen on 240-min chart, NCDEX Soybean breached the consolidation range and is indicating further weakness in price. The 14-period RSI is indicating weakness in price for short-term. Strong resistance is capped at Rs.6225 whereas support is placed at Rs.5770.


Outlook


Price sustained break below support will confirm further weakness towards Rs.5600 – 5500 levels. Selling on rise is advised, but our bias will negate above the resistance mark.


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first published: Sep 20, 2021 05:56 pm

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