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Chana futures rebounds on bargain buying

27 Oct 2020 5:16 pm
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Mumbai (Commodities Control) – NCDEX Chana futures today went up 79 Rs to close at 5322 Rs/Qtl as per our anticipation.

In our earlier reports we mentioned that Chana prices might not go below 5250/5200 and might track back towards 5300/5350 Rs per qtl.

Today the rebound in market was in reflection to our view and buying came in at lower prices. With stocks already depleted prices towards 5250 levels were considered as bargain buy.

In another news prices also responded to break in release of port peas stocks. Which is directly beneficially for local stocks and prices.

NCDEX Chana futures are likely to stay above 5250/5300 levels to trade towards 5350/5400 in coming sessions.

(Commodities Control Bureau)


       
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