NCDEX RM Seed July (CMP Rs 2920):

The price of RM seed appears to be forming a Bullish Flag Pattern on its daily charts. The Bullish Flag price pattern is a continuation pattern and suggests that the prices will gain momentum for a fresh up move after a small consolidation. Thus, the bullish flag pattern would be confirmed on a break above Rs 2945 levels. Thus, traders can buy above Rs 2945 levels with a stop loss placed below Rs 2917 levels for targets of Rs 2975 and Rs 3000 levels.