NCDEX chana was trading in a range bound manner for several weeks. The consolidation formed a large triangle and broke out on the upside. It has also retested the trendline and has resumed the rally. The daily momentum indicator is in line with the price action whereas the weekly momentum indicator has given a fresh buy signal. Thus short- term as well as medium-term trend for chana is up.The targets are Rs3,940and Rs4,100 (the equality targets).The reversal would be below Rs3,421.
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