Chana gained Rs 14 and settled at Rs 2268 per quintal on value-buying fueled by hopes of a pick-up in local demand due to the on-going festival season. Buying will improve after every decline in prices due to the festival season.  Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and Karnataka are the main chana producing states and sowing begins from October. In Delhi spot market, chana fell down by -16.3 rupee to end at 2300 rupee per 100 kgs. The volume was noted at 120150 lots. Support for chana is at 2238 below that could see a test of 2208. Resistance is now seen at 2292 above that could see a resistance of 2316.

Trading Ideas:

Chana trading range is 2208-2316.

Chana settled positive on value-buying fueled by hopes of pick-up in local demand

Chana is taking resistance at 2292 and support is seen at 2238.

NCDEX accredited warehouses chana stocks fell 715 tonnes to 44916 tonnes.

In Delhi spot market, chana fell down by -16.3 rupee to end at 2300 rupee per 100 kgs.