Chana dropped Rs 8 and settled at Rs 2190 per quintal as pressure from higher output and ample stocks offset a decline in arrivals. Chana prices were also pressurized by weak spot market as in Delhi spot market chana slipped 6.5 rupees to end at 2,186 rupees per 100 kg. Demand may improve in coming days because consumption of chana dal increases during monsoon. Yesterday the volume was noted at 93260 lots. Support for chana is at 2178 below that could see a test of 2167. Resistance is now seen at 2205 above that could see a resistance of 2221.

Trading Ideas:

Trading Ideas:

Chana trading range is 2167-2221.

Chana dropped as pressure from higher output and ample stocks

Support for the chana is seen at 2178 and resistance is at 2205.

NCDEX accredited warehouses chana stocks gained by 1061 tonnes to 46520 tonnes.

SELL CHANA JUNE @ 2195 SL 2220 TGT 2172-2156.NCDEX

In Delhi spot prices dropped 6.50 rupees and settled at 2,186 rupees per 100 kg