Chana gained Rs 1 and settled at Rs 2496 per quintal on domestic demand and government support prices, but higher output estimates limited gains. Demand for chana has increased in the past few days due to the ongoing wedding season. According to government estimates, production of chana is likely to be 7.35 million tonnes as against 7.06 million tonnes last year. In Delhi spot market, chana jump up by 17.5 rupee to end at 2425 rupee per 100 kgs. The volume was noted at 48380 lots. Support for chana is at 2486 below that could see a test of 2476. Resistance is now seen at 2506 above that could see a resistance of 2516.

Trading Ideas:

Chana trading range is 2477-2517.

Chana yesterday settled firm on domestic demand

Chana is taking resistance at 2506 and support is seen at 2486.

NCDEX accredited warehouses chana stocks fell 6967 tonnes to 27575 tonnes.

In Delhi spot market, chana jump up by 17.5 rupee to end at 2425 rupee per 100 kgs.