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Chana gains 0.5% on spot demand.
Chana prices rose by Rs 18 to Rs 3,418 per quintal in futures
market today as speculators enlarged their positions, driven by
pickup in demand in the spot market. However, rising supplies
from the new crop in the physical market restricted the gains. At
the National Commodity and Derivatives Exchange (NCDEX), the
June contract rose by Rs 18, or 0.53% to Rs 3,418 per quintal in
1,37,220 lots
.Jeera may gain on export demand
Jeera prices are likely to move up in the coming days on hopes of
overseas demand and lower arrivals, according to traders.Jeera
futures improved on Thursday as demand from exporters and
stockiest was strong. However, spot jeera ruled flat. On the
NCDEX, jeera June contract gained by Rs 112.50 at Rs 13,315 a
quintal, with an open interest of 11,499 lots. NCDEX July contract
increased by Rs 97.50 to Rs 13,500, with an open interest of 6,828
lots.
EXPERT OPINION
STOCK S1 S2 R1 R2
CHANA 3,260 3220 3340 3385
RM SEED 3,440 3390 3530 3577
SOYABEAN 3805 3750 3840 3895
JEERA 13200 13050 13440 13600
Trading tip:
Buy Soyarefined June
above 708 tg 712, 716
sl 704
Sell Chilli June
Below 5580
tg 5480,5380
sl 5680
DAILY SOYABEAN CHART
ANALYSIS
OPEN: 3818
HIGH: 3826
LOW: 3807
CLOSE: 3813
SOYABEAN LOOKS SIDEWAYS
TREND: CONSOLIDATE
STRATEGY: BUY ON DIPS
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DAILY CHANA CHART
ANALYSIS
OPEN: 3300
HIGH: 3308
LOW: 3288
CLOSE: 3299
CHANA LOOKS DOWNWAYS
TREND: BEARISH
STRATEGY: SELL ON RISE
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