Chana ended down on mounting arrivals from Madhya Pradesh and Rajasthan, ample stocks and on estimates of higher output. Prices may be supported by a decision by the Rajasthan state government to increase the stock limit of chana to ensure better prices for farmers. In Delhi spot market, price dropped 11 rupees to end 2,217 rupees per 100 kg. Chana dropped Rs 31 and settled at Rs 2288 per quintal. The volume was noted at 74650 lots. Support for chana is at 2273 below that could see a test of 2259. Resistance is now seen at 2313 above that could see a resistance of 2339.

Trading Ideas:

Chana trading range is 2259-2339.

Chana ended down on mounting arrivals and ample stocks

Support for the chana is seen at 2273 and resistance is at 2302.

NCDEX accredited warehouses chana stocks rose by 197 tonnes to 24920 tonnes.

In the Delhi spot market prices dropped 11 rupees to end 2,217 rupees per 100 kg

SELL CHANA MAY ON JUMP @ 2300-2310 SL 2326 TGT 2282-2265.NCDEX