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Business Analytics Wing Chana Insight

15 J UNE 2018
TECHNICAL RECOMMENDATION
Commodity Contract S2 S1 Close R1 R2 Recommendations
Chana NCDEX Jul-18 3330 3368 3417 3440 3457 Buy at 3380-3385 TP 3460 SL 3360
Price performance
Contract Open High Low Close % Change Volume % Change Open Interest % Change
Jul-18 3388 3427 3330 3417 1.03% 66330 29.9% 110480 -0.6%
Aug-18 3430 3471 3380 3461 1.05% 15910 95.5% 27920 3.6%
Sep-18 3464 3514 3431 3501 0.89% 1440 182.4% 2960 5.3%
Review:
 NCDEX chana futures advanced the gains for second consecutive day on Thursday on extended short
covering as well as bargain buying
 Besides, forecast to lull in monsoon progress for a week also gave underlying support to the market
 Most active Jul contract futures made an intraday high of Rs. 3427 per quintal from the low of Rs. 3330 per
quintal and ended the session at Rs. 3417 per quintal, up by 1.03%

Outlook:
Chana futures on NCDEX are forecast to trade on positive note during today’s trading session on fresh buying.
Delay in progress of monsoon also likely to give support to the futures market. Bargain buying is expected to
emerge at lower price level. According to latest sowing data available, total area brought under kharif pulses as on
8th June 2018 was 1.87 lakh hectares against 1.98 lakh hectares planted in the same period a year.

Spread matrix Spread movement


120

Jul-18 Aug-18 Sep-18 100


80
60

Jul-18 0.00 40
20

Aug-18 44.00 0.00 0


6/1/2018
6/2/2018
6/3/2018
6/4/2018

6/6/2018
6/7/2018
6/8/2018
6/9/2018
6/5/2018
5/29/2018
5/30/2018

6/11/2018
6/12/2018
6/13/2018
6/14/2018
5/31/2018

6/10/2018
Sep-18 84.00 40.00 0.00 Jul-Jun Aug-Jun Aug-Jul

Derivative Analysis: Spread Analysis (Jul-Jun)


140000 Open Interest Volume Price 3600
50
120000
45
100000
3550 40
80000
35
60000
30
3500
40000
25
20000 20
0 3450 15
10

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