Wheat falls on arrival pressure

Wheat yesterday traded with the negative node and settled -0.26% down at 1206 as the arrival season is affecting the market sentiments and exerting pressure on the prices.
The drop in the FCI procurement compared to last year is creating concerns about the yield levels during the current year. According to the third advance estimates the production of wheat is expected to be around 84.2 million tons.
In Delhi wheat prices gained 5.5 rupee to end at 1186.25 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1199 after opening at 1205, and finally settled at 1206.
For today's session market is looking to take support at 1199.5, a break below could see a test of 1192.9 and where as resistance is now likely to be seen at 1212.1, a move above could see prices testing 1218.1.
Trading Ideas:

Wheat trading range is 1192.9-1218.1.
Wheat yesterday traded with the negative node as s the arrival season is affecting the market sentiments
Wheat is having resistance at 1212.10 and support at 1199.50 level.
NCDEX accredited warehouses wheat stocks rose by 10 tonnes to 3493 tonnes.
In Delhi wheat prices gained5.5 rupee to end at 1186.25 rupees per 10 kg.
Courtesy: Kedia Commodities

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Wheat-falls-on-arrival-pressure-12802.html)