India -Castor Seed Futures Bearish for September Delivery

The trend in castor seed futures for September delivery on India’s National Commodity and Derivatives Exchange (NCDEX) is bearish.

On 20th August , support for NCDEX castor seed is seen at 3360 and 3310 levels while resistance is seen at 3440 and 3500 levels at Commodity Online. NCDEX castor seed for September delivery was seen trading down by 1.42% at Rs.3400 per 100 kgs.

As of now, NCDEX castor seed is seen exhibiting bearish trend despite weak INR. Generally depreciation of INR against USD supports the commodities in the futures market.

Read More at: http://www.commodityonline.com/news/india-castor-seed-futures-bearish-despite-weak-indian-rupee-55970-3-55971.html