NCDEX CHANA TREND ON SIDEWAYS

• Chana futures are expected to trade sideways. Rains in many parts of North-West and Central India keeps market sentiments weak on anticipations of that being good for the standing crop.
• NCDEX Chana January futures traded on a negative note on Friday. Chana January contract declined 0.5% to 3455 levels on Friday  India's National Commodity & Derivatives Exchange Limited (NCDEX).
• Chana is likely to trade sideways for short term and intra day with short term support seen at 3550 and resistance at 3770. Intra day support is seen at 3680 and resistance at 3750.
• Domestic demand however likely to pick up again at the lower levels as overall market sentiments remain firm. Fall in Rabi sowing area for Rabi Pulses and lower International production prospects could support prices in medium to long term however.