Chana dropped on sluggish demand, concerns of government curbs to check food inflation and higher supplies from imports. Yesterday demand is weak in the physical market. Imported pulses are also putting pressure on prices. Government agencies and private players are importing pulses to bridge the gap between domestic demand and supply.

In the Delhi spot market, the price fell by 35 rupees to 2,450 rupees. Chana dropped Rs 22 and settled at Rs 2482 per quintal. The volume was noted at 42480 lots. Support for chana is at 2467 below that could see a test of 2453. Resistance is now seen at 2503 above that could see a resistance of 2525.

Trading Ideas:

Chana trading range is 2430-2530.

Chana dropped on sluggish demand and higher supplies from imports

Imported pulses are also putting pressure on prices

Spot Chana prices fell by 35 rupees to 2450 rupees per 100 kg

SELL CHANA JAN @ 2500-2510 SL 2536 TGT 2488-2470-2456.NCDEX