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

Oil and Oilseeds Insight

Mail Us at commodity@karvy.com
 Chana Insight

___________________________________________________________________________________________________________________

KARVY COMTRADE LIMITED

REGISTERED OFFICE: Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderabad, Telangana-500034
CORPORATE OFFICE: Karvy Millennium, 9th Floor, Plot No.31, Financial District, Nanakramguda, Gachibowli, Hyderabad,
Telangana – 500032
Contact Us: Toll Free No: 1800-425-1900

SEBI REGISTRATION NO: INZ00007335 | MCX MEMBERSHIP ID: 10775 | NCDEX MEMBERSHIP ID: 00236
NMCE MEMBERSHIP ID: CL0268 |

“INVESTMENT IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS, READ ALL RELATED DOCUMENTS CAREFULLY BEFORE
INVESTING”
-------------------------------------------------------------------------------------------
To unsubscribe please mail us at commodity@karvy.com
Disclaimer
The report contains the opinions of the author that are not to be construed as investment advice. The author, directors and other employees
of Karvy, and its affiliates, cannot be held responsible for the accuracy of the information presented herein or for the results of the positions
taken based on the opinions expressed above. The above-mentioned opinions are based on the information which is believed to be accurate
and no assurance can be given for the accuracy of this information. There is risk of loss in trading in derivatives. The author, directors and
other employees of Karvy and its affiliates cannot be held responsible for any losses in trading.
Commodity derivatives trading involve substantial risk. The valuation of the underlying may fluctuate, and as a result, clients may lose their
entire original investment. In no event should the content of this research report be construed as an express or an implied promise,
guarantee or implication by, or from, Karvy Comtrade that you will profit or that losses can, or will be, limited in any manner whatsoever.
Past results are no indication of future performance. The information provided in this report is intended solely for informative purposes and
is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where
projections of future conditions are attempted.
We do not offer any sort of portfolio advisory, portfolio management, or investment advisory services. The reports are only for information
purposes and not to be construed as investment advice. For a detailed disclaimer please go to following URLs:
http://karvycommodities.com/disclaimer; http://karvycommodities.com/risk-disclaimer

Mail Us at commodity@karvy.com