Chana Market Updates and Price Outlook by Origo e-Mandi || 2 June 2022

Описание: #ChanaMarketUpdates #OrigoeMandi
Chana Delhi prices traded lower by 0.35% at Rs.4739/quintal over the previous day.
Prices are trading lower by 1.4% on w-o-w basis and trading near multi-months’ low due to higher supply amidst sluggish demand.
Chana arrival in mandis from 1st Mar to 1st Jun 2022 is 14.5 Lakh MT, higher by 21% y-o-y.

NAFED Chana procurement as of 1st Jun reached 23.19 Lakh MT.

Price Outlook
Chana Delhi prices has broken the strong support of Rs. 4900 on 17th May, the next support is seen at Rs. 4600 level.
Chana Delhi will trade sideways to bearish unless we see a daily close above Rs. 4850.
Chana Delhi prices would trade in the price band of Rs. 4600 to 4850 in the near term.

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