NCDEX CHANA GAINS BY 0.8%

Chana gains by 0.8% on upsurge in spot demand

• Chana prices moved higher by 0.78% to Rs 3,116 per quintal in futures trade today as speculators enlarged positions.
• At the National Commodity and Derivatives Exchange, chana for delivery in January next year moved up by Rs 24, or 0.78%, to Rs 3,116 per quintal with an open interest of 98,380 lots.
• Similarly, the commodity for delivery in December contract was up by Rs 22, or 0.73%, to Rs 3,041 per quintal in 17,350 lots.
• Chana trading range for the day is 3034-3144.
  Technically market is under fresh buying as market has witnessed gain in open interest by 3.71% to settled at 93880 while prices up 19 rupee.
• Now Chana is getting support at 3063 and below same could see a test of 3034 level, and resistance is now likely to be seen at 3118, a move above could see prices testing 3144.