NCDEX CHANA TRADE SIDE WAYS ON NEGATIVE NOTE

• Chana futures were trading negative on Wednesday due to sluggish demand and profit booking on higher levels.
• Chana December contract declined 1.08% to 3025 levels on Wednesday at India's National Commodity & Derivatives Exchange Limited (NCDEX).
• Chana is likely to trade sideways 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 3000 and resistance at 3070.
• Chana has been sown over 69.43 lakh hectares as on December 05, 2014 which is -17.24% lower than the area sown during the same period 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.