Chana dropped Rs 33 and settled at Rs 2159 per quintal on estimates of higher output and hopes of a normal monsoon which is likely to boost sowing of kharif pulses. Pulses are mainly rainfed crops and sowing operations of kharif pulses usually start after the first monsoon showers. In Delhi spot market, chana price dropped 12 rupees and ended at 2,125 rupees per 100 kg.  The volume was noted at 55620 lots. Support for chana is at 2146 below that could see a test of 2133. Resistance is now seen at 2181 above that could see a resistance of 2203.

Trading Ideas:

Chana trading range is 2133-2203.

Chana continued its weak trend on estimates of higher output and hopes of normal monsoon

Support for the chana is seen at 2146 and resistance is at 2181.

NCDEX accredited warehouses chana stocks rose 379 tonnes to 48343 tonnes.

In Delhi spot prices dropped 12 rupees and settled at 2,113 rupees per 100 kg

SELL CHANA JULY @ 2180 SL 2202 TGT 2156-2132.NCDEX