Chana extended losses hammered by ample carry-forward stocks, hopes of higher output and fears government may intervene in the market to curb the price rise in food commodities.

In the Delhi spot market, the price fell by 24 rupees to 2,450 rupees per 100 kg. Chana dropped Rs 31 and settled at Rs 2477 per quintal. The volume was noted at 50650 lots. Support for chana is at 2435 below that could see a test of 2392. Resistance is now seen at 2518 above that could see a resistance of 2558.

Trading Ideas:

CHANA TRADING RANGE IS 2460-2580.

CHANA EXTENDED LOSSES HAMMERED BY AMPLE CARRY-FORWARD STOCKS

BUY CHANA DEC ABV 2500 SL 2488 TGT 2516-2538-2556-2585. NCDEX

NOW IMP RESISITANCE WILL BE THE 2500 LEVEL

SPOT CHANA PRICES FELL BY 24 RUPEES TO 2,450 RUPEES PER 100 KG