Chana dropped Rs 49 and settled at Rs 2314 per quintal weighed by higher sowing of kharif pulses and rains in the kharif pulses growing regions. Kharif pulses are trading weak on hopes of higher output. Sowing is very good this season as farmers got attractive prices last year. In Delhi spot market, chana gained 17 rupees to end at 2,275 rupees per 100 kg. As on July 29, area under kharif stood at 8.736 million hectares, compared to 7.545 million hectares a year ago. The volume was noted at 104740 lots. Support for chana is at 2295 below that could see a test of 2276. Resistance is now seen at 2352 above that could see a resistance of 2390.

Trading Ideas:

Chana trading range is 2276-2390.

Chana ended lower weighed by higher sowing of kharif pulses

Support for the chana is seen at 2295 and resistance is at 2334.

NCDEX accredited warehouses chana stocks fell by 541 tonnes to 57756 tonnes.

In Delhi spot prices gained 17 rupees and settled at 2,275 rupees per 100 kg