Chana settled down with marginal change Saturday on selling at higher level continued to weigh on prices amid bearish fundamentals. March chana has fallen more than 25 percent as on Friday close from a Nov. 26 high on hopes of higher output due to expanded acreage, fears of government intervention to curb food inflation and ample carry-forward stocks.

In the Delhi spot market, price slipped 7 rupees to 2,200 rupees per 100 kg. Chana dropped Rs 8 and settled at Rs 2181 per quintal. The volume was noted at 58550 lots. Support for chana is at 2163 below that could see a test of
2146. Resistance is now seen at 2198 above that could see a resistance of 2216.

Trading Ideas:

Chana trading range is 2146-2216.

Chana settled down Saturday on selling at higher level amid bearish fundamentals

Resistance for the chana is at 2198 and support is at 2163 level.

NCDEX accredited warehouses chana stocks seen at 28879 tonnes as on Feb 19.

SELL CHANA MAR ON JUMP @ 2210-2220 SL 2248 TGT 2180-2162-2145.NCDEX