Quick Tips: NCDEX Chana (May): Short-term Bullish

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NCDEX Chana Chart 21-May-2015

We maintain our bullish view in NCDEX Chana as prices have been in an up trend forming higher tops and higher bottoms. Recently, as shown above on weekly chart, prices have breached 38.20% Fibonacci levels. Prices continue to trade above 9,13,21 EMA signaling bullish trend. Hence we recommend to go long in NCDEX Chana on decline towards Rs. 4290 for the target of Rs. 4415.

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