Chana closed Saturday session higher posting smart profit on concerns high temperature in a key growing region may hurt yields.

Buying activities kept its momentum going as chana throughout the entire week witnessed supportive lower level buying that aided prices to recover from long recent bearish trade. Fundamentals are however reported to be weak.

Chana gained Rs 26 and settled at Rs 2171 per quintal. The volume was noted at 41970 lots. Support for chana is at 2149 below that could see a test of 2128. Resistance is now seen at 2188 above that could see a resistance of 2206.

Trading Ideas:

Chana trading range is 2128-2206.

Chana rose on concerns high temperature in a key growing region may hurt yields

Chana is getting support at 2129 and resistance is at 2165 level

NCDEX accredited warehouses chana stocks fell by 1998 tonnes at 25902 tonnes.

In the Delhi spot market gained by over 12 rupees to 2,162 rupees per 100 kg

BUY CHANA MAR AT 2160-2170 SL 2148 TGT 2184-2200-2122.NCDEX

Courtesy: Kedia Commodities

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