NCDEX CHANA TO TRADE ON NEGATIVE NOTE

• Chana futures traded on a negative note on Monday due to profit booking on higher levels. Limited demand in the markets has been also influencing the sentiments.
• Higher availability of imported chick peas and liquidation on higher levels are negative factor for the prices. Chana December contract plunged 1.1% to 3057 levels on Monday at India's NCDEX.
• Chana is likely to trade negative for short term and bearish for intra day with short term support seen at 2980 and resistance at 3150. Intra day support is seen at 3060 and resistance at 3090,”.
• Total coverage under pulses has been 80.74 lakh hectares which is -11.46% lower than previous year. The sowing of Chana has reached 40.99 lakh hectares against 53.05lakh hectares last year same time.