Commodity Outlook for Chana by Kedia CommodityChana dropped Rs 20 and settled at Rs 2307 per quintal on profit-taking and higher output hopes, but expected festive demand limited losses. Demand is likely to improve as many festivals are celebrated in coming weeks. However, expectations are there that prices to move upwards in the next few sessions on the back of festive demand and the wedding season ahead. In Delhi spot market, chana jump up by 6 rupee to end at 2306 rupee per 100 kgs. The volume was noted at 38540 lots. Support for chana is at 2298 below that could see a test of 2289. Resistance is now seen at 2325 above that could see a resistance of 2343.

Trading Ideas:

Chana trading range is 2289-2343.

Chana settled weak on profit-taking and higher output hopes

Chana is taking resistance at 2325 and support is seen at 2298.

Demand is likely to improve as many festivals are celebrated in coming weeks

In Delhi spot market, chana jump up by 6 rupee to end at 2306 rupee per 100 kgs.