Chana Prices on daily charts closed above its 10-days and its 20-days EMA, indicating an upward trend.
• 14-days RSI is at 67.2 and is in neutral region.
• MACD is in the positive territory.
In the present week, we expect Chana prices to remain firm. However, in the short to medium term (on month), Prices may remain weak due to rising arrivals of Kharif pulses. Long term trend in Chana futures may depend on the reports sowing of Rabi Pulses which is presently expected to be higher due to increase in MSP of Pulses and the climatic conditions prevailing at the time of maturity.
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