Chana futures opened up sharply, but profit taking at higher levels erased some gains. The December NCDEX contract made high of Rs2685 and ended at Rs2652 levels. Spot prices at Delhi rose to Rs2530 per quintal tracking firmness in other pulses.
Outlook
Spot prices are quoting at Rs2550 per quintal at Delhi
Sharp rise in kharif pulses supporting bullish trend in chana prices despite huge stocks in spot markets
As per market sources, farmers may not show much interest in chana due to less price compared to other agriculture commodities especially rabi crops
Near term trend remain bullish and prices are expected to touch Rs3000 levels
For the day ahead, chana futures are likely to take some correction initially, but may rise towards closing session
Courtesy: JRG Wealth Management Explore Commodity Online Mobile Services
