Showing posts with label Chana Futures. Show all posts
Showing posts with label Chana Futures. Show all posts

Thursday, 1 January 2015

NCDEX CHANA TREND ON SIDEWAYS

Chana Futures, Chana NCDEX, Agri Commodity Tips, Free Agri Tips, free agri calls, Chana Futures trading tips
  • 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.


Friday, 5 December 2014

NCDEX CHANA PRICE GAINS BY 0.7%

Agri Commodity Tips, free agri tips,free agri calls, Chana NCDEX, Chana Futures, Delivery calls

Chana gains by 0.7% on spot demand
  • Chana were up 0.70% to Rs 3,001 per quintal in futures trade today as speculators created fresh positions, driven by pick up in demand in the spot market.
  • At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 21, or 0.70% to Rs 3,001 per quintal with an open interest of 72,080 lots.
  • Commodity for delivery in January next year contracts traded higher by Rs 18, or 0.59% to Rs 3,063 per quintal in 6,560 lots.
Fresh selling seen in Chana, open interest up 25.06%
  • Chana settled down by -1.84% at 3045 on subdued demand from bulk consumers and increasing stocks at warehouses. Domestic demand for chickpea is weak in local mandis as quality available in market is of inferior variety.
  • Technically market is under fresh selling as market has witnessed gain in open interest by 25.06% to settled at 71610, now Chana is getting support at 3026 and below same could see a test of 3007 level, and resistance is now likely to be seen at 3077, a move above could see prices testing 3109.
Trading Tips
  • Chana trading range for the day is 3007-3109.
  • NCDEX accredited warehouses chana stocks gained by 778 tonnes to 40358 tonnes.
  • In Delhi spot market, chana dropped  by -34.6 rupee to end at 3022.7 rupee per 100 kgs.
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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.

Monday, 24 November 2014

NCDEX CHANA BULLISH ON IMPROVED DEMAND

Agri Commodity Tips, Chana NCDEX, Chana Futures, stock tips

Chana futures traded on a positive note on improved demand. Chana December contract gained 0.41% to 3176 levels on Tuesday at India's National Commodity & Derivatives Exchange Limited (NCDEX).

Chana is likely to trade positive for short term and sideways for intra day with short term support seen at 3080 and resistance at 3260. Intra day support is seen at 3150 and resistance at 3220.
Farmers have brought in 54.61 lakh hectare under Chana which is -15.67% lower than previous year. The coverage under Chana has increased by around 33% week on w-o-w.

The decline in other pulses has been less prominent and the coverage under other pulses has reached 26.13 lakh hectares which is -1.14% lower than last year. 

Total coverage under pulses has been 80.74 lakh hectares which is -11.46% lower than previous year. The sowing of Chana has reached 40.99 lakh hectares against 53.05 lakh hectares last year same time.




Thursday, 20 November 2014

NCDEX CHANA TURNS BULLISH ON IMPROVE DEMAND


Chana Futures, Chana NCDEX,  Trading tips, stock tips, intraday calls

MUMBAI Commodity: Chana futures traded on a positive note on improved demand. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

Higher availability of imported chick peas and liquidation on higher levels are negative factor for the prices.

Chana December contract gained 0.58% to 3141 levels on Friday at India's National Commodity & Derivatives Exchange Limited (NCDEX).

Chana is likely to trade positive for short term and sideways for intra day with short term support seen at 3080 and resistance at 3220.Intra day support is seen at 3110 and resistance at 3160.

The sowing of chana has reached 40.99 lakh hectares against 53.05 lakh hectares last year same time. Coverage of total pulses has been 58.77 lakh hectares against 70.85 lakh hectare last year.

CHANA SIDE WAY TREND:-
Pivot point :-  3120, S1/S2/S3:-  3109 /3094/3068                      
Closs point :-  3123, R1/R2/R3:-  3135/3146/3172

Tuesday, 18 November 2014

Chana slides 0.38% on adequate supply


Chana Futures, Chana NCDEX, Chana Trade, Future Trade, NCDEX,Delivery calls
NCDEX CHANA Tread :- Sideway
Outlook turn bearish  for NCDEX chana Trade

PIVOT POINT :- 3164,S1-3133 ,R1:-3185

Chana prices were down by 0.38 per cent to Rs 3,171 per quintal in futures trade today as speculators trimmed positions, driven by increased supplies from producing regions in spot market against subdued demand.

At the National Commodity and Derivative Exchange, chana for delivery in November fell by Rs 12, or 0.38 per cent to Rs 3,171 per quintal with an open interest of 53,480 lots.

The December contract declined by Rs 10, or 0.32 per cent to Rs 3,144 per quintal in 66,450 lots.

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Monday, 17 November 2014

Fresh Bying Seen in NCDEX Ref.Soya oil , Chana & Turmeric


Chana Futures, NCDEX Turmeric, soyabean NCDEX
  1. open interest up 2.46%  Ref.Soya oil
  2. open interest up 4.58%  Chana
  3. open interest up 1.29%  Termeric

Ref. Soya oil:-
Ref.Soyaoil settled down by -0.47% at 586.85 on profit booking after prices seen supported on speculation of Indian government's plan to hike import duty on crude and refined oil.

Chana:-
Chana settled up by 0.5% at 3199 on account of increased demand from mills against restricted arrivals from the major producing belts. Besides, hopes of lower output from the major producing belts too supported chana prices uptrend.

Turmeric:-
Turmeric settled flat on late profit booking after prices seen supported due to lower production possibilities and improved export demand. As per the market sources, the total production of turmeric in the current year is expected to be around 35-37 lakh bags against 52 lakh bags of the last year.

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Thursday, 13 November 2014

Chana Prices Fall On Subdued Demand

Chana Futures, NCDEX , Delivery Calls, Future Trading Tips
chana prices fell 0.06% to Rs 3,205 per quintal in futures trade today as speculators reduced positions amidst a fall in demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in December declined by Rs 2, or 0.06%, to Rs 3,205 per quintal with an open interest of 67,440 lots.

Similarly, the commodity for delivery in November traded lower by Re 1, or 0.03%, to Rs 3,216 per quintal in 60,440 lots.

Market analysts said offloading of positions by speculators amid subdued demand at spot markets mainly put pressure on chana prices at futures trade here.

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Tuesday, 11 November 2014

Chana future to trade higher today


Agri Commodity,NCDEX,Future Trading Tips, Chana Futures

Chana future is expected to trade higher today. Good demand, increased MSP, and declining arrival pressure may continue to lend support to the prices .

Yesterday NCDEX Chana futures traded on a positive note almost 0.79% up on good demand from physical market due to starting of marriage seasons. Prices have gained over the last few days on slow start to the rabi pulses sowing.

supplies of chana, imports of yellow peas and arrival pressure of kharif pulses capped sharp upside movement in the prices. Sowing of Chana has begun but on very slow pace (on 7th Nov 2014). As per the acreage data under the crop has reached 16.15 lakh hect., Which is -32.09% lower than the same period previous year.

The CCEA has set MSP for 2014-15 at Rs. 3175/qtl from Rs. 3100 last year According to the Ministry of Agriculture, sowing of rabi pulses as on 31st October stands at 7.84 lakh ha as against 6.66 lakh ha last year. Sowing of kharif pulses stood at 10.23 mn ha as against 10.91 mn ha last year.

CCEA increased the MSP of tur and urad by Rs.50 to Rs.4,350 each, while the MSP of moong was increased by Rs.100 to Rs.4,600/qtl. The 4th Advance Estimates pegged total pulses output for 2013-14 at 19.27 mn tn, up from 18.34 mn tn earlier.

1st advance estimates have pegged kharif pulses output at 5.2 mn tn, down from 6.02 mn tn last year. Total area covered under Rabi Pulses 2013-14 stood at 161.9 lakh ha as against 152.65 lakh ha last year. Chana sowing stood at 10.21 mn ha compared to 9.51 mn ha in the previous year.

Friday, 7 November 2014

Chana Futures May Trade on Positive Note

Chana futures are expected to trade on a positive note today. Good demand,increased MSP, and declining arrival pressure may continue to lend support to the prices.

 Commodities report on agricultural commodities

Chana:-

Chana futures traded on a mixed note on Wednesday. Prices opened lower on profit taking. However, prices recovered from lower levels towards the end of the session on good demand and settled unchanged. Prices have gained over the last few days on slow start to the rabi pulses sowing. However, ample supplies of chana, imports of yellow peas and arrival pressure of kharif pulses capped sharp upside movement in the prices. The CCEA has set MSP for 2014-15 at Rs. 3175/qtl from Rs. 3100 last year Prices have declined over the last few months on sluggish demand in the physical markets coupled with record chana output in 2013-14. According to the Ministry of Agriculture, sowing of rabi pulses as on 31st October stands at 7.84 lakh ha as against 6.66 lakh ha last year. Sowing of kharif pulses stood at 10.23 mn ha as against 10.91 mn ha last year. CCEA increased the MSP of tur and urad by Rs.50 to Rs.4,350 each, while the MSP of moong was increased by Rs.100 to Rs.4,600/qtl. The 4th Advance Estimates pegged total pulses output for 2013-14 at 19.27 mn tn, up from 18.34 mn tn earlier. 1st advance estimates have pegged kharif pulses output at 5.2 mn tn, down from 6.02 mn tn last year.Total area covered under Rabi Pulses 2013-14 stood at 161.9 lakh ha as against 152.65 lakh ha last year. Chana sowing stood at 10.21 mn ha compared to 9.51 mn ha in the previous year. 

Demand supply scenario:-

Supplies of Chana since past two year have been ample as the country reaped bumper Chana output in 2012-13 season. For 2013-14 too, the government in their fourth advance estimates has projected record output of at 9.88 mn tonnes in the Rabi season. Chana would however, continue to retain the tag of largest produced pulse crop in India holding a lion’s share of 48-50 percent in total Indian Pulses production. According to India Pulses and Grains Association, Apr-Dec’13 stood at import 2.4 mn tn vs 2.8 mn tn last year. In value terms, India imported $2.3 billion of pulses in 2012-13, almost 28% higher over $1.85 billion in the preceding year. However, imports in 2013-14 season may decline 11% to 3.2 mn tn on expectations of higher output. According to APEDA, Pulses exports from India between Apr-June ’14 declined 20% to 77,430 tn as against 96,933 tn between Apr-June ’13.