Commodity Outlook for Chana by KediaCommodity

ChanaChana rose nearly 3 percent on buying interest at low-levels after trading range-bound in the last few sessions, offsetting arrivals and higher output views. In Delhi spot market, price gained 14 rupees to end at 2,171 rupees per 100 kg. India's chana acreage as on March 11 stood at 8.92 million hectares, compared with 8.35 million hectares in the same period a year ago. Chana gained Rs 64 and settled at Rs 2246 per quintal. The volume was noted at 112350 lots. Support for chana is at 2202 below that could see a test of 2159. Resistance is now seen at 2268 above that could see a resistance of 2291.

Trading Ideas:

Chana trading range is 2158-2290.

Chana rose nearly 3 percent on buying interest at low-levels

Support for the chana is seen at 2238 and resistance is at 2268

NCDEX accredited warehouses chana stocks fell by 101 tonnes to 24530 tonnes.

In the Delhi spot market prices rose by 14 rupees and settled at 2,171 rupees per 100 kg

CHANA A JUMP TILL 2270 CAN BE SEEN ONCE WILL WAIT TO TAKE POSITION