NCDEX CHANA RISING DEMAND IN SPOT MARKET

Chana climbs by 1.4% on upsurge in spot demand

• Chana Supported by rising demand in spot markets, chana prices rose sharply by Rs 42, or 1.41% to, Rs 3,026 per quintal in futures trade today as speculators enlarged positions.
• At the National Commodity and Derivatives Exchange, chana for delivery in December shot up by Rs 42, or 1.41% to Rs 3,026 per quintal with an open interest of 64,650 lots.
• Similarly, the commodity for delivery in January next year moved up by Rs 39, or 1.28% to Rs 3,082 per quintal in 79,050 lots.

NCDEX Chana to trade on negative note

• Chana is likely to trade negative for short term as well as intra day with short term support seen at 2930 and resistance at 3120. Intra day support is seen at 2980 and resistance at 3040.
• Chana December contract gained 1.84% to 3039 levels on Monday at India's  NCDEX.

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