Buy NCDEX Soyabean Dec fut; target of Rs 3410: Way2Wealth

Way2Wealth's report on NCDEX Soya bean

NCDEX Dec Soya bean futures have reversed the downtrend from 50% Fibonacci level of the recent rally 3196 and ended in a positive zone by forming “bullish hammer” candlestick pattern on weekly charts. This can lead the prices further high towards the recent high of 3410 levels, above that 3487 will be the next target. However, any fall should be considered as an opportunity to accumulate fresh longs at 3277 levels.

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