Chana dropped Rs 20 and settled at Rs 2347 per quintal on profit-taking driven by ample stocks and on concerns over higher deliveries. Long liquidation is seen in chana as deliveries are expected to be higher. In Delhi spot market, chana fell 9 rupees to end at 2,275 rupees per 100 kg. The volume was noted at 153700 lots. Support for chana is at 2331 below that could see a test of 2314. Resistance is now seen at 2371 above that could see a resistance of 2394.

Trading Ideas:

Chana trading range is 2314-2394.

Chana ended weak on profit-taking driven by ample stocks

Support for the chana is seen at 2331 and resistance is at 2371.

NCDEX accredited warehouses chana stocks rose by 714 tonnes to 58502 tonnes.

In Delhi spot prices fell 9 rupees and settled at 2,275 rupees per 100 kg