Chana ended slightly down in a range-bound trade on rising arrivals and sluggish demand due to concerns prices may slip further. Expectations of higher output due to an expansion in acreage and ample stocks are also weighing on prices. In Delhi spot market, price slipped 23 rupees to 2,150 rupees per 100 kg.

India's chana acreage as on March 4 stood at 8.92 million hectares, compared with 8.34 million hectares in the same period a year ago. Chana dropped Rs 7 and settled at Rs 2124 per quintal. The volume was noted at 31360 lots. Support for chana is at 2112 below that could see a test of 2100. Resistance is now seen at 2137 above that could see a resistance of 2150.

Trading Ideas:

Chana trading range is 2100-2150.

Chana ended slightly down on rising arrivals and sluggish demand

India's chana acreage as on March 4 stood at 8.92 million hectares

Chana is getting support at 2112 and resistance is at 2137 level

In the Delhi spot market price fell down 23 rupees to 2,150 rupees per 100 kg

SELL CHANA MAR @ 2140 SL 2165 TGT 2116-2100-2085.NCDEX