Chana reversed early losses to end higher on hopes demand will pick up in coming weeks and on firm prices of summer-sown pulses due to a delay in sowing. In early trade chana were trading lower as sowing of kharif pulses started picking up in main growing region and on imports of cheaper yellow peas by government agencies.
In the Delhi spot market, prices fell by 25 rupees to 2,175 rupees per 100 kg. Support for chana is at 2154 below that could see a test of 2139. Resistance is now seen at 2179 above that could see a resistance of 2189.
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Trading Ideas: Chana trading range is 2130-2210.
Chana erase losses on demand hopes.
In Delhi market, prices fell by 25 rupees to 2,175 rupees per 100 kg.
Buy chana July at 2160 SL 2148 TGT 2174-2185-2196.
Sell chana July at 2200-2210 SL 2226 TGT 2186-2170-2156.
Courtesy: Kedia Commodities
