Grains surge on the first trading day of Aug, lifting Fcpo as well. Bulls can take comfort now as mkt created a breakout scenario after it finished with toppish outlook last week.
While bullish, fcpo is unlikely to make a straight run towards 2700++ but is likely to make a pit-stop after 2600 is hit. Trading range is raised to 2540-2600 from 2450-2540.
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