Chana yesterday traded with the positive node and settled 0.61% up at 2321 on inquiries from millers in the spot and hopes demand will get a boost in the festive season with steady supply and support has also be seen from the spot market, where chana gained 11 rupees to end at 2,270.00 rupees per 100 kg. In India, the festive season begins from August and extends till October.

The Muslim fasting month of Ramadan and major Hindu festivals like Ganesh puja and Diwali fall during this period. As on August 12, area under kharif stood at 10.321 million hectares, compared to 8.6 million hectares a year ago. For today's session market is looking to take support at 2309, a break below could see a test of 2297 and whereas resistance is now likely to be seen at 2329, a move above could see prices testing 2337.

Trading Ideas:

Chana trading range is 2292-2332.

Chana ended positive on inquiries from millers in spot

Support for the chana is seen at 2309 and resistance is at 2337.

NCDEX accredited warehouses chana stocks inched down by a tonne to 46776 tonnes.

BUY CHANA SEPT @ 2310-2320 SL 2298 TGT 2338-2356.NCDEX

In Delhi spot prices gained 11 rupees and settled at 2,270 rupees per 100 kg