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Firm trend continued for Chana in the Spot market as Futures rates failed to rise due to bearishness in other Agri Commodities.
Low arrivals supported the market rates while there was still lack of significant demand in the mandis which prevented the rates from shooting up. Satisfactory advancement of the Monsoon too kept sentiments slight bearish for other Pulses.
Normal Monsoon report pressurized the market sentiments for Agri Commodities. Spot rates remained firm on falling arrivals and reports of proposed in-crease in MSP for Pulses.
A firm trend in other Pulses could support the chana rates which had fallen significantly over last few months.
Spot remained firm on expectations of a rise in demand. The short term trend is likely to remain very volatile with trading activities set to rise in coming weeks in the mandis.
Crude oil MCX: Buy June at 4500-02 TP 4554/75 SL 4470.
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