Commodit Tips

NCDEX Calls: Pinnacle Financial Expert View on Chana

India’s largest producer state of Chana Madhya Pradesh has extended the target production during the upcoming Rabi season. According to data from the state Department of Agriculture during the 2015-16 rabi season, the state set a production target of 30.32 million tonnes of grains were produced in the year 2014-15 as against 2.36 lakh tonnes will close. During 2014-15, 29.64 lakh tonnes in Madhya Pradesh gram was produced.NCDEX Calls
The state Department of Agriculture has targeted about 28.60 lakh hectares during rabi gram cultivation this year, while in previous year it was 28.53 lakh hectares cultivated grains produced.

NCDEX Chana Trend
On NCDEX Chana November futures prices slipped due to profit booking at higher levels when prices crossed the historic mark of 5339 levels. Chana prices hit a lower circuit in the last trading session and prices closed at RS. 5074 per quintal, down by 2.40% from its previous day’s close. Outlook for the day is bearish if the prices breach the near support 5050. It holds a strong resistance near 5200.

NCDEX Call of The Day:
Sell NCDEX Jeera Nov. below 16000 and maintain a Stop loss above 16200. We can see the target around 15800-15600. Get More NCDEX Calls… Just Missed Call us @ 0731-6655530.