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

Thursday, 28 May 2015

CHANA GAINS BY 0.7% ON LOWER OUTPUT CONCERN

Agri Commodity Tips ,  Commodity free tips  , Commodity intraday tips , MCX Tips Services  Rising for the third day, chana prices rose by 0.69% to Rs 4,796 per quintal in futures trade today as speculators enlarged positions, driven by lower output estimates in key growing regions.
Further, pick-up in demand in spot markets supported the upside.
At the NCDEX chana for delivery in July month advanced by Rs 33, or 0.69% to Rs 4,796 per quintal with an open interest of 78,320 lots.
Similarly, the commodity for delivery in June gained Rs 31, or 0.66% to Rs 4,699 per quintal in 98,530 lots.
NCDEX Chana June contract is likely to trade bullish for short term and side ways for intra day with short term support at 4600 and resistance at 4800. Intra day support is seen at 4650 and resistance at 4700.

CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity TipsCommodity free tips  , Commodity intraday tips , MCX Tips Services and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.

Wednesday, 6 May 2015

NCDEX CHANA UP 4% ON LOWER OUTPUT ESTIMETES

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Chana prices climbed 3.65 per cent to Rs 4,597 per quintal in futures trade today as speculators indulged in enlarging their positions amid lower output estimates due to unseasonal rainfall in key growing belts.
Also, rising demand in the spot market fuelled the uptrend.
At National Commodity and Derivatives Exchange, chana for delivery in June advanced Rs 162, or 3.65 per cent, to Rs 4,597 per quintal with an open interest of 1,07,600 lots.
Similarly, the commodity for delivery in May contracts gained Rs 133, or 3.04 per cent, to Rs 4,505 per quintal in 90,940 lots.
CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. CapitalStras also ave-liable on Twitter , linkedin and facebook .Get real time advice for Agri Commodity TipsCommodity free tips  , Commodity intraday tips  , commodity free tips and all market updates. For 2 Days Free Trial, please visit our site http://www.capitalstars.com Call at 0731-6790000, 6669900.

Wednesday, 11 February 2015

DAILY AGRI COMMODITY MARKET REPORT - 12 FEB 2015


Agri Commodity Tips, free agri calls, Chana NCDEX, NCDEX Dhaniya, NCDEX soyabean, NCDEX TurmericNCDEX TURMERIC April futures traded on a surged on Wednesday(5.00pm). Turmeric spice incresed by 2.24% to 8226 level at NCDEX. Poor off take from up country traders are affecting Turmeric prices. Good arrivals were note din Nizamabad today as well and the prices tumbled amid thin demand. The traders are expecting this momentum to continue, keeping prices slightly on a bearish track.
NCDEX SOYABEAN April futures sluggished by -0.79% in the last trading to close at 3371 level till Wednesday closing. Prices weakened for Soybean as weakness in International markets kept pressure on the domestic prices. Higher projections for global production may keep a cap on rising prices.
NCDEX CHANA futures traded on a positive note on incresed demand on Wednesday(5.00PM). Chana April contract gained 0.97% to 3639 levels. recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
NCDEX DHANIYA April futures surged by -0.60% in the last trading to close at 7310 level on Wednesday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.

Tuesday, 10 February 2015

DAILY AGRI COMMODITY MARKET REPORT -11 FEB 2015

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TURMERIC April futures traded on a surged on Tuesday(5.00pm)at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spice incresed by 1.21% to 8038 level at NCDEX. Poor off take from up country traders are affecting Turmeric prices. Good arrivals were note din Nizamabad today as well and the prices tumbled amid thin demand. The traders are expecting this momentum to continue, keeping prices slightly on a bearish track.

The NCDEX SOYABEAN April futures sluggished by-0.70% in the last trading to close at 3395 level till Tuesday closing. Prices weakened for Soybean as weakness in International markets kept pressure on the domestic prices. Higher projections for global production may keep a cap on rising prices.

CHANA futures traded on a positive note on incresed demand on Tuesday(5.00PM). Chana April contract gained 0.70% to 3608 levels. recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains ingrowing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.

The NCDEX DHANIYA April futures surged by -0.86% in the last trading to close at 7360 level on Tuesday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.

Monday, 9 February 2015

DAILY AGRI COMMODITY MARKET REPORT -10 FEB 2015

Chana NCDEX , NCDEX Dhaniya, NCDEX soyabean , NCDEX Turmeric, Chana Futures trading tips , Agri Commodity Tips, free agri callsNCDEX TURMERIC April futures traded on a sluggished on Monday .Turmeric spice slipped by -0.35% to 7966 level at NCDEX. Poor off take from up country traders are affecting Turmeric prices. Good arrivals were note din Nizamabad today as well and the prices tumbled amid thin demand.The traders are expecting this momentum to continue, keeping prices slightly on a bearish track.

NCDEX SOYABEAN April futures sluggished by -0.84% in the last trading to close at 3415 level till Monday closing. Market managed to recover from early losses on short covering and firm international cues. Moreover, bullish oil-complex sentiments also supported the trend. Meanwhile, higher projections for global production could however keep a cap on rising prices.

NCDEX CHANA futures traded on a positive note on incresed demand on Monday(5.00PM). Chana April contract gained 1.50% to 3586 levels.recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains ingrowing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.

NCDEX DHANIYA April futures surged by -1.88% in the last trading to close at 7430 level on Monday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.

Sunday, 1 February 2015

AGRI COMMODITY MARKET REPORT & LEVELS FOR -02 FEB 2015

NCDEX Dhaniya, Chana NCDEX, NCDEX soyabean, NCDEX Turmeric, agri commdity tips, free agri callsNCDEX TURMERIC April futures traded on a negative note on Friday. NCDEX Turmeric spice easied by -3.58% to 7978 level on Friday (5.00pm) at .Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.
CS TURMERIC (APRIL) LEVELS
TREND    BEARISH
RESIST 2:8430 || RESIST 1:8230            
SUP1:7900 || SUP2:7760
STRATEGY: SELL ON RISE

The NCDEX SOYABEAN February futures consolidate by 2.13% in the last trading to close at 3404 level till Friday closing.Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. Higher projections for global production could however keep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) LEVELS
TREND  MIXED TO BULLISH
RESIST 2:3460 || RESIST 1:3430
SUP1:3355 || SUP2:3300
STRATEGY: BUY ON DIPS

NCDEX CHANA futures traded on a positive note on incresed demand on Friday. Chana January contract gained 2.37% to 3497 levels on Friday(5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CS CHANA  (FEBRUARY) LEVELS                      
TREND  BULLISH
RESIST 2:3580 || RESIST 1:3540
SUP1:3435 || SUP2:3370
STRATEGY: BUY ON DIPS

The NCDEX DHANIYA April futures surged by 0.49% in the last trading to close at 7845 level on Friday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) LEVELS
TREND   MIXED TO BULLISH
RESIST 2:7950 || RESIST 1: 7890             
SUP1:7740 || SUP2:7640
STRATEGY: BUY ON DIPS

Thursday, 29 January 2015

DAILY AGRI MARKET REPORT & LEVELS - 30 JAN 2015

Chana NCDEX, NCDEX Dhaniya, NCDEX soyabean, NCDEX Turmeric, free agri calls, agri commdity tipsNCDEX TURMERIC April futures traded on a positive note on Thursday . Turmerics pice easied by 1.94% to 8300 level on Thursday(5.00pm) at NCDEX. Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.
CS TURMERIC   (APRIL) OVERVIEW:
TREND    MIXED TO BULLISH
RESIST 2:8430 || RESIST 1:8370            
SUP1:8190|| SUP2:8070
STRATEGY: BUY ON DIPS

NCDEX SOYABEAN February futures consolidate by 0.00% in the last trading to close at 3337 level till Thursday closing. Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. Higher projections for global production could howeverkeep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3405 || RESIST 1:3370
SUP1:3310 || SUP2:3285
STRATEGY: SELL ON RISE

NCDEX CHANA futures traded on apositive note on incresed demand on Thursday. Chana January contract gained 2.10%to 3410 levels on Thursday(5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CS CHANA  (FEBRUARY) OVERVIEW:                        
TREND  MIXED TO BULLISH
RESIST 2:3470 || RESIST 1:3440
SUP1:3365 || SUP2:3320
STRATEGY: BUY ON DIPS

The NCDEX DHANIYA April futures surged by 0.97% in the last trading to close at 7810 level on Thursday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:7960 || RESIST 1:7885             
SUP1:7700 || SUP2:7600
STRATEGY: SELL ON RISE 

Wednesday, 28 January 2015

AGRI COMMODITY MARKET REPORT & LEVELS FOR - 29 JAN 2015

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NCDEX Turmeric April futures traded on a positive note on Wednesday . Turmeric spice easied by 1.21% to 8180 level on Wednesday(5.00pm) at NCDEX. Lack of strong demand amidst higher arrivals in the mandis kept trend weak for Turmeric.However with demand likely to rise in coming weeks at these lower levels, it could support the falling rates to some extent.
CS TURMERIC (APRIL) LEVELS
TREND    MIXED TO BEARISH
RESIST 2:8415 || RESIST 1:8280            
SUP1:8015 || SUP2:7890
STRATEGY: SELL ON RISE 
NCDEX Soyabean February futures eased by -0.51% in the last trading to close at 3339 level till Wednesday closing. Pick up in demand amidst expected clear skies could support the market sentiments for Soybean this week after the recent fall in rates. However bearishness in International markets prevented strong uptrend even as good demand in domestic markets persisted. Higher projections for global production could however keep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) LEVELS
TREND  MIXED TO BEARISH
RESIST 2:3400 || RESIST 1:3370
SUP1:3310 || SUP2:3280
STRATEGY: SELL ON RISE


Chana futures traded on a positive note on incresed demand on Monday. Chana January contract gained 1.60% to 3360 levels on Wednesday(5.00PM). recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains ingrowing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
CS CHANA  (FEBRUARY) LEVELS                        
TREND  MIXED TO BULLISH
RESIST 2:3405 || RESIST 1:3375
SUP1:3300 || SUP2:3255
STRATEGY: BUY ON DIPS


The NCDEX Dhaniya April futures eased by -0.17% in the last trading to close at 7725 level on Wednesday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) LEVELS
TREND   MIXED TO BEARISH
RESIST 2:8000 || RESIST 1: 7870             
SUP1:7575
SUP2:7400

STRATEGY: SELL ON RISE

Thursday, 22 January 2015

AGRI COMMODITY MARKET REPORT & LEVELS FOR -23 JAN 2015

Chana NCDEX, Soyabean Tips, Dhaniya Tips, Turmeric Tips, Chana Tips, NCDEX Dhaniya, NCDEX soyabean, Chana Tips , Agri Commodity Tips
NCDEX Turmeric April futures traded on a negative note on Thursday .Turmeric spice easied by -1.40% to 8476 level on Thursday (5.00pm) at NCDEX.Turmeric traded slightly lower as traders waited for the prices to cool before initiating fresh demand in mandis. Low stocks and lower production reports are however likely to support prices in the medium to long term. Demand from North India is also expected to rise in coming weeks.
CS TURMERIC  (APRIL) LEVELS
TREND    BEARISH                                   
STRATEGY: SELL ON RISE 
RESIST 2:8820 || RESIST 1:8660                 SUP1:8380 || SUP2:8260
NCDEX Soyabean February futures eased by -0.85% in the last trading to close at 3364 level till Thursday closing.Moderate firmness was noted for Soybean last week even as no strong recovery was noted in the International markets. Firm demand in domestic market kept trend slight firm as traders anticipate demand to rise even further in coming weeks.Higher projections for global production could however keep a tap on the rising rates.
CS SOYABEAN (FEBRUARY) LEVELS
TREND  MIXED TO BEARISH                       STRATEGY: SELL ON RISE
RESIST 2:3445 || RESIST 1:3400                  SUP1:3330 || SUP2:3300

Chana futures traded on a negative note on incresed demand on Thursday.Chana January contract gained -2.40% to 3290 levels on Thursday(5.00PM). Prices recovered from the lower levels on improved demand. The recent rains in some parts of Rajasthan had pressurized prices as that was considered beneficial for the standing crop. Any further rains in coming days there could again pressurize prices to some extent. However, lower sowing reports and expectations of a pick up in demand at the lower levels are likely to support the prices in coming weeks.
CS CHANA  (FEBRUARY) LEVELS                        
TREND  BEARISH                                       STRATEGY: SELL ON RISE 
RESIST 2:3405||RESIST 1:3350                   SUP1:3260||SUP2:3225
NCDEX Dhaniya April futures surged up by 4% in the last trading to close at 7714 level on Thursday.Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterranean Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
CS DHANIYA (APRIL) LEVELS
TREND   MIXED TO BULLISH                        STRATEGY: BUY ON DIPS 
RESIST 2:7900 || RESIST 1:7800                    SUP1:7525 || SUP2:7335


Sunday, 18 January 2015

AGRI MARKET NEWS & TREND LEVELS FOR - 19 JAN 2015

Chana NCDEX, Dhaniya Tips, NCDEX Dhaniya , NCDEX Turmeric, NCDEX soyabean , free agri calls, agri commdity tips , Chana Tips, Turmeric Tips, Soyabean TipsNCDEX Turmeric April futures traded on a negative note on Friday .Turmeric spice surged up by -1.64% to 8972 level on Friday at NCDEX .Moderate firm trend persisted for Turmeric as low stocks and lower production reports are likely to support prices in the medium to long term.
CS TURMERIC (APRIL) LEVEL
TREND MIXED TO BEARISH                STRATEGY: SELL ON RISE
RESIST 2:9370 / RESIST 1:9180             SUP1:8800 / SUP2:8610

NCDEX Soyabean February futures surged by 0.90% in the last trading to close at 3492 level till Thursday closing . Bearishness in International markets kept trend weak for Soybean as higher production reports prevented a strong recovery for the commodity .
CS SOYABEAN (FEBRUARY) LEVEL
TREND  MIXED TO BULLISH          STRATEGY: BUY ON DIPS
RESIST 2:3500 / RESIST 1:3485         SUP1:3460 / SUP2:3440

Chana futures traded on negative note on consolidate demand on Friday .Chana January contract gained -2.61% to 3364 levels on Friday .The 2nd advance estimate by Rajasthan state agriculture department projected 12.24 lakh tons of chana this year, while it had touched 16.40 lakh tons last year.
CS CHANA  (FEBRUARY) LEVEL                        
TREND   BEARISH                           STRATEGY: SELL ON RISE
RESIST 2:3500/RESIST 1:3435            SUP1:3335/SUP2:3300

NCDEX Dhaniya April futures surged up by 2.93% in the last trading to close at 7457 level on Friday .Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market .
CS DHANIYA (APRIL) LEVEL
TREND   MIXED TO BULLISH           STRATEGY: BUY ON DIPS
RESIST 2:7730/ RESIST 1: 7600            SUP1:7265/SUP2:7065        

Friday, 16 January 2015

NCDEX CHANA SHEDS 1.5% ON SLUGGISH SPOT DEMAND

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  • Chana prices were down by 1.53 % to Rs 3,401 per quintal in futures trade today as speculators trimmed positions, amid sluggish domestic demand and adequate stocks position.
  •  NCDEX Chana January contract declined by Rs 31, or 0.89% to Rs 3,441 per quintal in 11,860 lots.
  • Chana is likely to trade sideways for short term and bearish for intra day. Lower sowing reports amidst fall in stocks and improved domestic demand are likely to support the prices.
  • short term support for Chana is seen at 3440 and resistance at 3630. Intra day support is seen at 3745 and resistance at 3520 .




Friday, 9 January 2015

NCDEX CHANA, OPEN INTEREST UP 8.53%

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  • Chana trading range for the day is 3460-3610.
  • Chana arrivals were steady at 30 trucks as compared to previous day. According to Ministry of Agriculture, total rabi pulses acreage till Jan. 2, 2015 is down by 10% to 129.99 lakh hectare(Ha.) as compared with last year’s area coverage of 144.79 lakh hectare during the corresponding week.
    In Delhi spot market, chana gained by 11.65 rupee to end at 3492.7 rupee per 100 kgs.
  • Technically market is under fresh selling as market has witnessed gain in open interest by 8.53% to settled at 83970 while prices remain unchange 0 rupee
  • Now Chana is getting support at 3498 and below same could see a test of 3460 level, and resistance is now likely to be seen at 3573, a move above could see prices testing 3610.



Wednesday, 7 January 2015

CHANA MARKET UNDER LONG LIQUIDATION, OPEN INTEREST DROPS 7.74%

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  • Chana settled down by -1.19% at 3487 on subdued demand after government extended the duty free of import of chana. Worried over the fall in acreage and likely decline of output, the government extended the duty free of import of chana till Mar 31 2015. However downside seen limited on fears of fall in output due to lower acreage and adverse weather.
  • Chana is getting support at 3448 and below same could see a test of 3410 level, and resistance is now likely to be seen at 3531, a move above could see prices testing 3576.
  • Total rabi pulses acreage till Jan. 2, 2015 is down by 10% to 129.99 lakh hectare(Ha.)
  • In Delhi spot market, chana dropped by -36.9 rupee to end at 3479.4 rupee per 100 kgs.
CS CHANA  (JANUARY) OVERVIEW:                          

TREND MIXED TO BEARISH              STRATEGY: SELL ON RISE
RESIST 2:3515 || RESIST 1:3480
               SUP1:3410 || SUP2:3380


Monday, 5 January 2015

NCDEX CHANA TO TRADE SIDEWAY

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  • 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 Tuesday. Chana January contract declined 1.15% to 3440 levels on Tuesday.
  • Chana is likely to trade sideways for short term and intraday with short term support seen at 3320 and resistance at 3550. Intraday support is seen at 3430 and resistance at 3490.
  • As per Ministry of Agriculture, rabi pulses 2014-15 coverage till Dec 26 is down to 124.16 lakh Ha as com-pared with last year’s area coverage of 134.72 lakh hectare during the corresponding week. The area planted under chana is also down to 77.81 Lakh ha against 90.66 lakh ha in same corresponding week during last year.


Thursday, 1 January 2015

NCDEX CHANA TREND ON SIDEWAYS

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  • 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.


Monday, 29 December 2014

NCDEX CHANA RISING ON STRONGE DEMAND


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  • NCDEX Chana Jan. futures traded on a positive note on Monday taking clue from the spot market on raising demand against restricted arrivals.
  • Chana January contract gained 2.1 % to 3550 levels on Monday.
  • Chana is likely to trade positive for short term as well as intra day with short term support seen at 3510 and resistance at 3560. Intra day support is seen at 3430 and resistance at 3470,”.
  • Chana futures are expected to trade higher in the coming week as low arrivals and good demand of Dal may increase the prices however profit booking on higher levels may restrict sharp gains.





Thursday, 18 December 2014

LATTEST NEWS UPDATE NCDEX CHANA ON 19 DEC 2014



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Chana to trade Positive on good demand

  • NCDEX Chana January futures traded on a positive note on Friday on account of limited arrivals and good demand. As per the physical market participants, sowing is significantly lower in two major states of Madhya Pradesh and Maharashtra.
  • Chana January contract rose 0.61% to 3291 levels on Friday at India's National Commodity & Derivatives Exchange Limited (NCDEX).
  • Chana is likely to trade positive for short term as well as intra day with short term support seen at 3160 and resistance at 3410. Intra day support is seen at 3270 and resistance at 3330.

Tuesday, 16 December 2014

NCDEX CHANA TRADED POSITIVE NOTE ON - 17 DEC 2014

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  • NCDEX Chana January futures traded on a positive note on Wednesday on account of lower arrivals due to rain noticed in northern part of India.
  • Chickpea/Chana January contract rose 1.63% to 3237 levels on Wednesday at India's National Commodity & Derivatives Exchange Limited (NCDEX).
  • Chana is likely to trade positive for short term as well as intra day with short term support seen at 3130 and resistance at 3370. Intra day support is seen at 3180 and resistance at 3250.
  • Technically market is under short covering as market has witnessed drop in open interest by -5.66% to settled at 90660 while prices up 71 rupee,now Chana is getting support at 3139 and below same could see a test of 3085 level, and resistance is now likely to be seen at 3220, a move above could see prices testing 3247.



Thursday, 11 December 2014

NCDEX CHANA GAINS BY 0.8%

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Chana gains by 0.8% on upsurge in spot demand
  • Chana prices moved higher by 0.78% to Rs 3,116 per quintal in futures trade today as speculators enlarged positions.
  • At the National Commodity and Derivatives Exchange, chana for delivery in January next year moved up by Rs 24, or 0.78%, to Rs 3,116 per quintal with an open interest of 98,380 lots.
  • Similarly, the commodity for delivery in December contract was up by Rs 22, or 0.73%, to Rs 3,041 per quintal in 17,350 lots.
  • Chana trading range for the day is 3034-3144.
    Technically market is under fresh buying as market has witnessed gain in open interest by 3.71% to settled at 93880 while prices up 19 rupee.
  • Now Chana is getting support at 3063 and below same could see a test of 3034 level, and resistance is now likely to be seen at 3118, a move above could see prices testing 3144.

Wednesday, 10 December 2014

NCDEX CHANA TRADE SIDE WAYS ON NEGATIVE NOTE

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  • 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.