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Chana Traded Mixed in Major Spot Mkts

3 Mar 2021 8:52 pm
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Mumbai (Commodities control) – Chana prices traded mixed, as per quality, on Wednesday, in major markets amid cautious buying from mills at higher rates despite firm closing on Chana futures.

Moreover, the demand in dals and besan remained lukewarm.

However, millers are operating with minuscule stocks with pipelines running dry.

Nafed is most likely to discontinue auctions before 10th March, it will further led to tightness in supply.

Chana for April delivery on National Commodity and Derivatives Exchange (NCDEX) settled 1 percent or Rs 53 higher at Rs 5,030/100kg. Earlier in the day, the contract hovered in the range of Rs 4,951 and 5,030.

Going forward, Chana futures are to find support towards 4600 Rs/ qtl and trade towards 5000/5150 Rs/Qtl by coming sessions.

Open interest of top 10 trading clients in the long side was 28060 MT, whereas the short position of top ten clients was 38070 MT. The net position of top 10 clients was net short by 10010 MT.

Open interest for March contract decreased to 21,960 against 26,680 lots.

On other hand, open interest for April contract increased to 44,130 against 40,270 lots.

Chana stocks at NCDEX accredited warehouses stood at 332 metric tonnes as on 2nd March, unchanged from the previous session, the exchange data showed.

Spot Chana Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-22-40015513)

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