Chana futures traded mixed during last trading session as the complex was seen trading in its consolidation phase. Guar complex saw some profit booking during last trading session after a steep rally backed by strong fundamentals.

Chana arrivals are 7000-8000 bags at Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2270-
80/quintal up by Rs. 10-20/quintal from previous closing Spot price.

Output for Kharif pulses is expected to further reduce by another 5-10% as these surprise rainfalls will prove detrimental during harvesting season Kharif pulses.

Demand for Chana is expected to be at its peak during next two weeks mainly due to due to festive season, as sweets consumption is expected to be in huge quantity during the current festive season.

Due to these surprise rainfalls and flood like situation in Southern India, production of Maize is expected to a huge hit especially in the state of Andra Pradesh and Karnataka.

Export prospects of guargum seems to be positive as demand from western countries is picking up and we expect further increase in such demand for the coming year end.

Chana futures are expected to trade sideways to buy, any downside should be looked up as good buying opportunity. Guar complex too seems to be bullish and we recommend buying on dips for this entire complex. Wheat futures are expected to trade frim. Maize futures are expected to trade sideways to up and we recommend buying on dips for this counter.