Chana futures were trading range-bound on saturday afternoon on buying support at low-levels, but rising arrivals, ample carry-forward stocks and expectations of higher output weighed, It is likely to trade range-bound. Chana gained Rs 6 and settled at Rs 2310 per quintal. The volume was noted at 48060 lots. Local demand is not picking up, 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, price gained 12 rupees to 2,262 rupees per 100 kg. Support for chana is at 2301 below that could see a test of 2293. Resistance is now seen at 2324 above that could see a resistance of 2339.

Trading Ideas:

Chana trading range is -1553-3107.

Chana ended flat look to get pressure by rising arrivals and ample carry forward stocks

NCDEX warehouse stocks seen at 28037 tonnes as on 8 Feb.

In the Delhi spot market, price gained 12 rupees to 2,262 rupees per 100 kg.

BUY CHANA MAR @ 2300 SL 2278 TGT 2322-2338-2356.NCDEX

Support for chana is at 2289 and resistance is now seen at 2317 above that could see a resistance of 2335.