Last Updated : January 31, 2012 11:15

NCDEX chana edges higher, support at Rs.3050-3080: Angel

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Chana prices in the intraday are expected to remain under pressure on account of fresh arrivals.

Following the seasonality pattern, Chana prices decline during the peak arrival period (February-April) and start recovering gradually May onwards.

We expect same seasonality pattern to occur this time too.

However, price may not fall below 2800 levels, as this being the MSP.

Chana Feb Futures Rs./qtl support:3050-3080 resistance:3155-3175

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