Chana erased early losses to end higher on bargain-hunting, though weakness in spot market due to rising arrivals and sluggish demand capped the upside. India's chana acreage as on Jan. 21 stood at 8.68 million hectares, compared with 8.23 million hectares in the same period a year ago.

In the Delhi spot market, the price fell by 19 rupees to 2,231 rupees per 100 kg. Chana gained Rs 13 and settled at Rs 2198 per quintal. The volume was noted at 37650 lots. Support for chana is at 2173 below that could see a test of 2147. Resistance is now seen at 2212 above that could see a resistance of 2225.

Trading Ideas:

Chana trading range is 2150-2240.

Chana ended higher on bargain-hunting but weakness in spot market weighed on prices

Resistance for the chana is at 2212 and support is at 2173 level.

In the Delhi spot market price fell by 19 rupees to 2,231 rupees per 100 kg

Yesterday we have seen that open interest has fell by 750 lots and volume by 2470

SELL CHANA FEB @ 2200 SL 2236 TGT 2172-2156-2132.NCDEX