Commodity Trading Tips for Chana by Kedia Commodity
Chana ended flat after hitting one-month low weighed by rising supply of pulses in the domestic market. Arrivals for the winter-sown crop will peak in March. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago.
In Delhi spot market, chana fell down by -55.8 rupee to end at 2590.85 rupee per 100 kgs. The volume was noted at 129860 lots. Support for chana is at 2601 below that could see a test of 2570. Resistance is now seen at 2654 above that could see a resistance of 2676.
Trading Ideas: Chana trading range is 2572-2678. Chana ended flat after hitting one-month low weighed by rising supply of pulses Chana is taking resistance at 2654 and support is seen at 2601. NCDEX accredited warehouses chana stocks rose by 134 tonnes 20811 tonnes. In Delhi spot market, chana fell down by -55.8 rupee to end at 2590.85 rupee per 100 kgs.