Chana dropped Rs 21 and settled at Rs 2301 per quintal on higher acreage under kharif pulses and good weather raising hopes of better crop offsetting a supply squeeze. Weakness in other agri commodities weighed on chana prices. According to the fourth advance estimates, the production of chana in 2009-10, is likely to be 7.35 million tonnes against the actual production of 7.06 million tonnes last year. In Delhi spot market, chana fell down by 9.15 rupees to end at 2279.15 rupee per 100 kgs. The volume was noted at 174790 lots. Support for chana is at 2286 below that could see a test of 2271. Resistance is now seen at 2331 above that could see a resistance of 2361.

Trading Ideas:

Chana trading range is 2273-2363.

Chana ended down as higher acreage under kharif pulses and good weather weighed

Support for the chana is seen at 2286 and resistance is at 2331.

NCDEX accredited warehouses chana stocks fell 250 tonnes to 46974 tonnes.

In Delhi spot market, chana fell down by 9.15 rupee to end at 2279.15 rupee per 100 kgs.