Technical Outlook & Trading Strategy:-
The price of Chana is currently trading in a rising channel on its intraday charts. The price has witnessed a strong upmove over the past few sessions of trade backed by robust volumes.
A running breakout will be registered on a sustained move above the uptrend line resistance of the rising channel placed at the Rs 3592 levels.
Sustenance above these levels will bring about strong upside momentum into the counter.
Thus, we recommend traders to buy on a break above Rs 3592 levels with a stop loss placed below Rs 3557 levels for upside targets of Rs 3635 / Rs 3660 levels.
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