Chana dropped Rs 12 and settled at Rs 2612 per quintal weighed by continued profit-booking and hopes of fresh arrivals in the domestic market. Harvesting is expected to commence in 8-10 days time. The total daily arrivals of chana increased to 65 motors from 35 motors reported previously. In Delhi spot market, chana fell down by -44 rupee to end at 2642.2 rupee per 100 kgs. The volume was noted at 73930 lots. Support for chana is at 2597 below that could see a test of 2583. Resistance is now seen at 2630 above that could see a resistance of 2649.

Trading Ideas:

Chana trading range is 2584-2650.

Chana dropped on hopes of fresh arrivals in the domestic market

Chana is taking resistance at 2630 and support is seen at 2597.

NCDEX accredited warehouses chana stocks fell by 418 tonnes to 18320 tonnes.

SELL CHANA FEB BELOW 2600 SL 2622 TGT 2578-2556. NCDEX

In Delhi spot market, chana fell down by -44 rupee to end at 2642.2 rupee per 100 kgs.