Chana erased early gains to end lower as a rise in acreage and arrivals from the new crop in the physical market depressed sentiment. Bargain-hunting driven by firm kharif pulses and improved spot demand limited the downside. In the Delhi spot market, the price rose by 16 rupees to 2,400 rupees. Chana dropped Rs 36 and settled at Rs 2391 per quintal. The volume was noted at 50550 lots. Support for chana is at 2374 below that could see a test of 2358. Resistance is now seen at 2423 above that could see a resistance of 2456.

Trading Ideas:

Chana trading range is 2345-2445.

Chana ended lower due to rise in acreage and arrivals from the new crop

Chana is getting support at 2374 and resistance at 2408.

Spot Chana prices gained over 16 rupees to settled 2400 rupees per 100 kg

BUY CHANA JAN @ 2370-2380 SL 2352 TGT 2398-2416-2432.NCDEX