Chana extended the previous session's gains on firm prices of kharif pulses and concerns the country's output may fall this year on lower acreage in a key state. Market is expecting lower production compared to last year. Far-month contract are still in contango. Usually they go in backwardation in arrival period of March-April. In the Delhi spot market, the price climbed by 48 rupees to 2,490 rupees per 100 kg. Chana gained Rs 9 and settled at Rs 2628 per quintal. The volume was noted at 73720 lots. Support for chana is at 2618 below that could see a test of 2607. Resistance is now seen at 2642 above that could see a resistance of 2655.

Trading Ideas:

CHANA TRADING RANGE IS 2570-2670.

CHANA EXTENDED THE PREVIOUS SESSION'S GAINS ON FIRM PRICES OF KHARIF PULSES

BUY CHANA DEC @ 2620-2630 SL 2600 TGT 2648-2660-2682.NCDEX

NOW RES IS AT 2642 ABV THIS A RALLY TILL 2655-2670 CAN BE SEEN.

IN DELHI PRICES GAINED BY 48 RUPEES TO 2490.35 RUPEES PER 100 KG

A BREAK ABOVE 2640 LOOK BULLISH TILL 2700 ALSO.

Commodity Analysis by Kedia Commodity, India's Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com