Commodity Outlook for Chana by KediaCommodity
Chana edged up on firmness in kharif pulses and concerns acreage may fall in a key producing state, though profit-taking capped the rise. Lower acreage in Rajasthan will affect on the country's production. Chana acreage in Rajasthan as on Nov. 20 stood at 680,000 hectares, compared with 971, 000 hectares in the same period last year.
In the Delhi spot market, the price eased by a rupee to 2,488 rupees per 100 kg. Chana gained Rs 27 and settled at Rs 2657 per quintal. The volume was noted at 64870 lots. Support for chana is at 2635 below that could see a test of 2614. Resistance is now seen at 2668 above that could see a resistance of 2680.
Trading Ideas:
CHANA TRADING RANGE IS 2600-2700.
CHANA EDGED UP ON FIRMNESS IN KHARIF PULSES AND CONCERNS ACREAGE MAY FALL
BUY CHANA DEC ABV 2670 SL 2648 TGT 2690-2708-2722. NCDEX
NOW RES IS AT 2668 ABV THIS A RALLY TILL 2680-2700 CAN BE SEEN.
IN DELHI PRICES FELL OVER BY 1 RUPEES TO 2487.60 RUPEES PER 100 KG
CHANA ACREAGE IN RAJASTHAN AS ON NOVEMBER 20 STOOD AT 680,000 HECTARES