Sugar futures shed early gains and settled down mostly over two per cent due to heavy selling by traders following release of more-than-expected sugar quota for the current quarter.
Estimates of lower sugar production in the world had triggered buying interest in the morning. Now support for the sugar is seen at 1763 and below could see a test of 1741. Resistance is now likely to be seen at 1829, a move above could see prices testing 1873.
Trading Ideas:
TRADING RANGE IS 1740-1870.
BUY SUGARM NOV ABV 1790 SL 1778 TGT 1805-1818-1834. NCDEX
