Chana ended lower in thin volume trade on weak demand and hopes of higher supply after an increase in area under cultivation adding to ample carry-forward stocks. Higher acreage and possibility of government intervention is keeping prices under pressure. India's chana acreage as on Dec. 31 stood at 8.2 million hectares, compared with 7.87 million hectares the same period a year ago. Chana dropped Rs 29 and settled at Rs 2438 per quintal. The volume was noted at 46190 lots. Support for chana is at 2428 below that could see a test of 2417. Resistance is now seen at 2457 above that could see a resistance of 2475.

Trading Ideas:

Chana trading range is 2430-2530.

Chana ended lower on weak demand and hopes of higher supply

India's chana acreage as on Dec. 31 stood at 8.2 million hectares

Spot Chana prices fell over 6 rupees to 2418 rupees per 100 kg

SELL CHANA JAN @ 2500 SL 2524 TGT 2488-2470-2456.NCDEX