Chana gained Rs 2 and settled at Rs 2152 per quintal on improvement in spot demand amid squeezed supplies in the physical market but estimates of higher production weighed. Demand for chana dal and flour usually goes up during monsoon months as supply of vegetables drops in wet weather and also due to start of the festival season in August. In Delhi spot market, chana gained 21 rupees to end at 2,084 rupees per 100 kg. The volume was noted at 58320 lots. Support for chana is at 2144 below that could see a test of 2135. Resistance is now seen at 2163 above that could see a resistance of 2173.

Trading Ideas:

Chana trading range is 2135-2173.

Chana gained on improvement in spot demand amid squeezed supplies

Support for the chana is seen at 2144 and resistance is at 2163.

NCDEX accredited warehouses chana stocks jumped 316 tonnes to 49103 tonnes.

BUY CHANA JULY @ 2140 SL 2122 TGT 2165-2180.NCDEX

In Delhi spot prices jumped 21 rupees and settled at 2,084 rupees per 100 kg