Chana dropped Rs 8 and settled at Rs 2154 per quintal weighed by estimations of higher output, sluggish spot demand and on good progress of the monsoon rains. Buying activities are sluggish demand for chana dal is not gaining momentum as traders are apprehending further fall in the prices. In the Delhi spot market, chana was down 24 rupees to 2,089 rupees per 100 kg. The volume was noted at 52210 lots. Support for chana is at 2138 below that could see a test of 2123. Resistance is now seen at 2165 above that could see a resistance of 2177.

Trading Ideas:

Chana trading range is 2123-2177.

Chana ended weak on sluggish spot demand and good progress of monsoon rains

Support for the chana is seen at 2138 and resistance is at 2165.

NCDEX accredited warehouses chana stocks fell 3833 tonnes to 44510 tonnes

SELL CHANA JULY @ 2165 SL 2185 TGT 2152-2125.NCDEX

In Delhi spot prices dropped 24 rupees and settled at 2,089 rupees per 100 kg