NCDEX CHANA RISING ON STRONGE DEMAND

• NCDEX Chana Jan. futures traded on a positive note on Monday taking clue from the spot market on raising demand against restricted arrivals.
• Chana January contract gained 2.1 % to 3550 levels on Monday.
• Chana is likely to trade positive for short term as well as intra day with short term support seen at 3510 and resistance at 3560. Intra day support is seen at 3430 and resistance at 3470,”.
• Chana futures are expected to trade higher in the coming week as low arrivals and good demand of Dal may increase the prices however profit booking on higher levels may restrict sharp gains.

NCDEX CHANA TRADED POSITIVE NOTE ON - 17 DEC 2014

• NCDEX Chana January futures traded on a positive note on Wednesday on account of lower arrivals due to rain noticed in northern part of India.
• Chickpea/Chana January contract rose 1.63% to 3237 levels on Wednesday at India's National Commodity & Derivatives Exchange Limited (NCDEX).
• Chana is likely to trade positive for short term as well as intra day with short term support seen at 3130 and resistance at 3370. Intra day support is seen at 3180 and resistance at 3250.
• Technically market is under short covering as market has witnessed drop in open interest by -5.66% to settled at 90660 while prices up 71 rupee,now Chana is getting support at 3139 and below same could see a test of 3085 level, and resistance is now likely to be seen at 3220, a move above could see prices testing 3247.