Chana dropped Rs 9 and settled at Rs 2284 per quintal as hopes of a rise in output of kharif pulses due to higher sowing and good rains in key cultivating regions weighed on sentiment. Despite a fall in prices, spot market was steady as traders were expecting a pick-up in demand in the festival season that runs from August to October. In Delhi spot market, chana edged down 2.5 rupees to end at 2,250.00 rupees per 100 kg. The volume was noted at 130980 lots. Support for chana is at 2260 below that could see a test of 2237. Resistance is now seen at 2310 above that could see a resistance of 2337.

Trading Ideas:

Chana trading range is 2236-2336.

Chana ended weak quintal as hopes of rise in output of kharif pulses weighed

Support for the chana is seen at 2260 and resistance is at 2310.

NCDEX accredited warehouses chana stocks fell by 201 tonnes to 46485 tonnes.

In Delhi spot prices fell 2.50 rupees and settled at 2,250 rupees per 100 kg