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“The fall is the reflection of free fall in international prices last night. Down side support is seen at 1315 level and strong support at 1280. Investor can hold buying position with stop loss of 1280”, s..

18 Sep 2012

MUMBAI (Commodity Online): Maize for October delivery on NCDEX has recorded a dip of -2.8% at Rs.1355 per 100 kg on Tuesday at 12.02 pm.

“The fall is the reflection of free fall in international prices last night. Down side support is seen at 1315 level and strong support at 1280. Investor can hold buying position with stop loss of 1280”, said Melbin Noble agri Analyst at Commodity Online.

“However, above 1500 level it is likely to touch 1700 and than after 1850 level within and of December. The level below 1280 level is not expected from current levels.” he added.

At Chicago Board of Trade December corn dipped 0.53% to $7.52 a bushel, having closed down 4.4% on Monday at 3.30 GMT.


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