Tuesday 2 December 2014

NCDEX CHANA TRADE A NEGATIVE NOTES ON WEDNESDAY

Chana NCDEX, Agri Commodity Tips, free agri tips, free agri calls, Chana Futures, Future Trading Tips
  • Chana futures traded on a negative note on Wednesday due to profit booking on higher levels. The pulse is still reeling under bearish sentiments.
  • Chana December contract plunged 0.58% to 3073 levels on Wednesday at India's National Commodity & Derivatives Exchange Limited (NCDEX).
  • Chana is likely to trade negative for short term and intra day with short term support seen at 2980 and resistance at 3150. Intra day support is seen at 3060 and resistance at 3090.
  • Sowing area under chana has reached 63.85 lakh hectare as on Nov 29 which is -15.75% lower as against last year. The acreage under Rabi pulses has reached 32.08lakh hectare which is 2.59% higher than previous year.
  • Chickpea/Chana production has been revised down in Australia to 435 thousand tonnes in the latest production estimates by the Australian Agricultural Department released on December 02, 2014. The production shall be -31.17% lower year on year while estimate has been revised down by around 6% from the earlier crop production estimate during September 2014.

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