Chana fell on rising arrivals in the physical market and higher production estimates, but a recovery in other pulses limited the downside. Arrival pressure has pulled down spot prices. Prices were merely tracking the spot. In the Delhi spot market price dropped by 50 rupees to 2,300 rupees per 100 kg. Chana dropped Rs 25 and settled at Rs 2310 per quintal. The volume was noted at 78010 lots. Support for chana is at 2296 below that could see a test of 2283. Resistance is now seen at 2332 above that could see a resistance of 2355.

Trading Ideas:

Chana trading range is 2283-2355.

Chana fell on rising arrivals in the physical market and higher production estimates

Support for the chana is seen at 2296 and resistance is at 2332.

NCDEX accredited warehouses chana stocks fell by 953 tonnes to 26915 tonnes.

In the Delhi spot market prices fell by 50 rupees to end 2,300 rupees per 100 kg

SELL CHANA APR ON JUMP @ 2335-340 SL 2378 TGT 2316-2302-2280.NCDEX