Motilal Oswal's report on Agri Weekly
As recommended in the previous week, NCDEX Soybean achieved our recommended target and is indicating further strength in price. The 14-period RSI at 68 not signifying any trend reversal and MACD is also confirming further strength. Now strong support is placed at Rs.7275 and bias remains positive above the same.
Outlook
The counter is likely to target Rs.7630 – 7820 levels in the near term. So buying is advised for as long as price holds above support.
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