Chana futures fell over 1 percent on Thursday on rising arrivals, higher output estimates and ample carry-forward stocks. The production of winter-sown pulses is likely to be 10.53 million tonnes in 2009/10 against 9.88 million tonnes produced a year ago. Overall trend is down due to higher production estimate of chana. At Wednesday's close, the contract has fallen more than 24 percent from a Nov. 26 high on hopes of higher output due to expanded acreage, fears of government intervention to curb food inflation and ample carry-forward stocks. India's chana acreage as on Jan. 21 stood at 8.68 million hectares, compared with 8.23 million hectares in the same period a year ago. In the Delhi spot market, price slipped 15 rupees to 2,235 rupees per 100 kg. Chana gained Rs -34 and settled at Rs 2199 per quintal. The volume was noted at 92580 lots. Support for chana is at 2172 below that could see a test of 2144. Resistance is now seen at 2236 above that could see a resistance of 2272.

Trading Ideas:

Chana trading range is 2184-2204.

Chana dipped more that 1 percent on rising arrivals, ample carry-forward stocks and hopes of higher output.

Production of winter-sown pulses is likely to be 10.53 million tonnes in 2009/10.

In the Delhi spot market, price slipped 15 rupees to 2,235 rupees per 100 kg.

SELL CHANA MAR ON JUMP @ 2220 SL 2248 TGT 2202-2180-2156.NCDEX

Support for chana is at 2220 and resistance is now seen at 2280.