Chana dropped Rs 8 and settled at Rs 2213 per quintal as estimates of higher output weighed on prices. But the fell in prices were supported on some lower level buying supported by marginal inquires for chana dal in spot. Demand for chana dal by millers is supporting prices. Demand is likely to improve further in coming days.

In Delhi spot market, chana prices settled steady at 2,125 rupees per 100 kg. The volume was noted at 20200 lots. Support for chana is at 2205 below that could see a test of 2198. Resistance is now seen at 2224 above that could see a resistance of 2236.

Trading Ideas:

Chana trading range is 2198-2236.

Chana dropped as estimates of higher output weighed on prices

Support for the chana is seen at 2198 and resistance is at 2236.

NCDEX accredited warehouses chana stocks gained 285 tonnes to 46989 tonnes.

In Delhi spot prices settled steady at 2,125 rupees per 100 kg

BUY CHANA JULY ABV 2222 SL 2206 TGT 2235-2256. NCDEX