Chana settled steady at Rs 2170 per quintal on squeezed supplies and inquiries from dal millers, but estimates of higher output capped the gains. Arrivals are declining in the spot market. Good inquiries are coming from dal millers but retail buyers are still passive, waiting for prices to come down further. In Delhi spot market, chana inched up 7 rupees to end at 2,107 rupees per 100 kg. The volume was noted at 58130 lots. Support for chana is at 2161 below that could see a test of 2152. Resistance is now seen at 2181 above that could see a resistance of 2192.

Trading Ideas:

Chana trading range is 2152-2192.

Chana settled steady on squeezed supplies and inquiries from dal millers

Support for the chana is seen at 2152 and resistance is at 2181.

NCDEX accredited warehouses chana stocks jumped 698 tonnes to 46654 tonnes.

BUY CHANA JULY @ 2150-2160 SL 2138 TGT 2175-2190.NCDEX

In Delhi spot prices gained 7 rupees and settled at 2,107 rupees per 100 kg