Chana dropped on higher arrivals in physical market and forecast of normal monsoon rains. Arrival pressure is building in north-India especially in Delhi market. In Delhi spot market, chana fell by 29 rupees to 2,181 rupees per 100 kg. Chana dropped Rs 23 and settled at Rs 2221 per quintal. The volume was noted at 118810 lots. Support for chana is at 2207 below that could see a test of 2193. Resistance is now seen at 2237 above that could see a resistance of 2253.

Trading Ideas:

Chana trading range is 2193-2253.

Chana dropped on higher arrivals in physical market and forecast of normal monsoon

Support for the chana is seen at 2207 and resistance is at 2237.

NCDEX accredited warehouses chana stocks rose by 390 tonnes to 36578 tonnes.

BUY CHANA MAY @ 2200-2205 SL 2186 TGT 2222-2245.NCDEX

In the Delhi spot market prices dropped 29 rupees to 2,181 rupees per 100 kg