Commodity Outlook for Chana by KediaCommodity
Chana ended higher on improved spot demand, firm kharif pulses and apprehension that acreage may fall in a key producing state. However, good stocks from last year's harvest checked a further rise in prices. The area under chana may shrink this year in Rajasthan due to poor rainfall and as many farmers have switched to rapeseed. Chana gained Rs 21 and settled at Rs 2632 per quintal. The volume was noted at 117430 lots. Support for chana is at 2610below that could see a test of 2587. Resistance is now seen at 2656 above that could see a resistance of 2679.
Trading Ideas:
CHANA TRADING RANGE IS 2580-2680.
CHANA YESTERDAY ENDED HIGHER ON IMPROVED SPOT DEMAND
BUY CHANA DEC ON DIP @ 2620-2630 SL 2600 TGT 2648-2670-2698.NCDEX
NOW RES IS AT 2656 ABV THIS A RALLY TILL 2670-2685 CAN BE SEEN.
IN DELHI PRICES FELL OVER BY 12 RUPEES TO 2471.80 RUPEES PER 100 KG