Chana extended their winning streak into a fourth day on improved spot demand, firm kharif pulses, and apprehension acreage may fall in a key producing state. Punjab government has imposed stock limit on pulses and it also weighed on sentiments. In the Delhi spot market, the price climbed by 47 rupees to 2,566 rupees per 100 kg. Chana settled at Rs 2681 per quintal. The volume was noted at 128420 lots. Support for chana is at 2655 below that could see a test of 2630. Resistance is now seen at 2707 above that could see a resistance of 2734.

Trading Ideas:

CHANA TRADING RANGE IS 2630-2730.

CHANA EXTENDED THEIR GAINS INTO A FOURTH DAY ON IMPROVED SPOT DEMAND

BUY CHANA DEC ON DIP @ 2650-2665 SL 2635 TGT 2684-2698-2712.NCDEX

NOW RES IS AT 2707 ABV THIS A RALLY TILL 2730-2745 CAN BE SEEN.

IN DELHI PRICES GAINED BY 47 RUPEES TO 2566.15 RUPEES PER 100 KG

SOME PULL BACK IS EXPECTED IN THE MARKET BUY ON THAT DIP

Commodity Analysis by Kedia Commodity, India’s Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com