Chana fell on Saturday due to profit booking after rising more than 2 percent in last session on recovery in domestic enquiries, especially from millers, offsetting swelling stocks and higher output views. Demand is picking up gradually. And there was a meeting between the Rajasthan government with the trade unions whether to ease stock limits or not. In Delhi, the spot was up 59 rupees at 2,350 rupees per 100 kg. Chana dropped Rs 6 and settled at Rs 2335 per quintal. The volume was noted at 67150 lots. Support for chana is at 2317 below that could see a test of 2300. Resistance is now seen at 2361 above that could see a resistance of 2388.

Trading Ideas:

Chana trading range is 2300-2388.

Chana fell on Saturday due to profit booking

Support for the chana is seen at 2317 and resistance is at 2360.

NCDEX accredited warehouses chana stocks rose by 1079 tonnes to 27868 tonnes.

In the Delhi spot market prices rose 59 rupees to end 2, 350 rupees per 100 kg

SELL CHANA APR ON JUMP @ 2355 SL 2382 TGT 2335-2316-2302.NCDEX