The adjoining chart is of NCDEX RM seed October contract. We can observe that RM seed was trading in an upward sloping channel which broke on the downside. It took support at the 40-daily exponential moving average (DEMA), ie Rs3,475. In the last trading session it closed above the 20-daily simple moving average. We expect RM seed to trade with a positive bias going ahead for the target of Rs3,667, which is the daily upper Bollinger Band and above that we expect the agri-commodity to test its previous high of Rs3,700. The reversal of the bearish stance is placed below the Rs3,489, which is the 40-DEMA