TOP: Commodity Outlook for Chana by KediaCommodity
Chana gained Rs 2 and settled at Rs 2254 per quintal on a likely rise in spot demand in the on-going festival season, though estimates of higher kharif pulses output and fresh arrivals weighed. Domestic demand should recover in the festival season. Domestic demand is expected to get a boost due to the coming festivals and marriage season. In Delhi spot market, chana fell down by -3.9 rupee to end at 2310 rupee per 100 kgs. The volume was noted at 63840 lots. Support for chana is at 2242 below that could see a test of 2231. Resistance is now seen at 2270 above that could see a resistance of 2287.
Trading Ideas:
Chana trading range is 2231-2287.
Chana settled firm on a likely rise in spot demand
Chana is taking resistance at 2270 and support is seen at 2242.