2.7 C
New York
Thursday, April 22, 2021

Chana futures turn bullish in short term ahead of festival season

Must read

U.S. Labor Market Strengthens Again as Jobless Claims Hit New Post-Covid Low

Sign In/Free Sign Up 0 Economic Indicators5 minutes ago (Apr 22, 2021 08:38AM ET) (C) Reuters. By Geoffrey Smith Investing.com -- The improvement in...

L.A. develops homelessness strategy, but does it have political will?

2/2 (C) Reuters. Homeless encampments line the bike path, as the coronavirus disease (COVID-19) disease pandemic continues, on Venice Beach in Los Angeles 2/2 By Daniel Trotta...

Energy Report: Giving In

The Wall Street Journal reports that, "Two people familiar with the matter said the U.S. is open to lifting terror sanctions against Iran's central...

Russia says it hopes U.S. ambassador’s consultations in Washington won’t be in vain

Politics12 minutes ago (Apr 22, 2021 08:30AM ET) MOSCOW (Reuters) - Russia said on Thursday it hoped U.S. ambassador John Sullivan would use his time...

Chana futures have turned bullish in the short term as government agency National Agricultural Cooperative Marketing Federation (Nafed) is confident about managing the excess stock of chana in the country.

“Chana futures have turned bullish in the short term. The September futures have been rising continuously since July 28, when the low was Rs 4094/quintal, with intermittent profit booking. Even the open interest has been rising,” said Vedika Narvekar, research analyst (agro-commodities), Anand Rathi Commodities.

“NAFED has indicated that the chana stocks it procured so far will be sold through various government schemes announced (PMGKAY). This has supported the market sentiment,” said Ashwini Bansod, research analyst, PhillipCapital.

Chana futures have remained range bound at Rs 4020/quintal to Rs 4345/quintal since end of March. Though it made attempts to breach the range, it could not be sustained. Now, market is watching if the futures are able to breach the range and touch the previous high of Rs 4500/quintal, last touched in January 2020.

- Advertisement -

Latest article

U.S. Labor Market Strengthens Again as Jobless Claims Hit New Post-Covid Low

Sign In/Free Sign Up 0 Economic Indicators5 minutes ago (Apr 22, 2021 08:38AM ET) (C) Reuters. By Geoffrey Smith Investing.com -- The improvement in...

L.A. develops homelessness strategy, but does it have political will?

2/2 (C) Reuters. Homeless encampments line the bike path, as the coronavirus disease (COVID-19) disease pandemic continues, on Venice Beach in Los Angeles 2/2 By Daniel Trotta...

Energy Report: Giving In

The Wall Street Journal reports that, "Two people familiar with the matter said the U.S. is open to lifting terror sanctions against Iran's central...

Russia says it hopes U.S. ambassador’s consultations in Washington won’t be in vain

Politics12 minutes ago (Apr 22, 2021 08:30AM ET) MOSCOW (Reuters) - Russia said on Thursday it hoped U.S. ambassador John Sullivan would use his time...

GBP/AUD: Continuation Of Expanding Wedge

GBP/AUD is currently at 1.7929 in an expanding wedge in a range. We are looking for an immediate move to the ATR target at...