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Chana Derivative Analysis

16-04-2018

NCDEX Contracts: On the derivatives front, along with the price decline, the both aggregate trading volume and open interests have increased considerably suggesting the ongoing bearish trend may be prolonged in the near term. From the technical front the May contract failed to go above 3850/3860 range hence moved down and we now see it coming down to Rs. 3601 the recent low price witnessed on 18th March. Overall we expect a bearish call on Chana in the near term.

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