Chana settled at Rs 2311 per quintal due to expectation of higher output, but festival demand limited the losses. Despite the festival demand, prices are seen in a range because winter crop may be good as per government estimates. The total arrivals of chana were around 50 motors against 40 motors reported. 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 -15 rupee to end at 2291 rupee per 100 kgs. The volume was noted at 36590 lots. Support for chana is at 2296 below that could see a test of 2280. Resistance is now seen at 2321 above that could see a resistance of 2330. Trading Ideas:

Chana trading range is 2280-2330.

Chana settled flat due to expectation of higher output

Chana is taking resistance at 2321 and support is seen at 2296.

The total arrivals of chana were around 50 motors against 40 motors reported

In Delhi spot market, chana fell down by -15 rupee to end at 2291 rupee per 100 kgs.