Chana gained Rs 30 and settled at Rs 2422 per quintal triggered by strong stockiest demand ahead of festival season along with rise in minimum support price by central government. Sharp rise in minimum support price of chana from 19.1% to Rs2100 per quintal will support the prices at lower levels as this will allow the government agencies to procure the chana at these prices Moreover, strong demand of chana during festival season will also provide some support to the prices in the near term. In Delhi spot market, chana fell down by -8.5 rupee to end at 2391.5 rupee per 100 kgs. The volume was noted at 67770 lots. Support for chana is at 2398 below that could see a test of 2373. Resistance is now seen at 2439 above that could see a resistance of 2455.

Trading Ideas:

Chana trading range is 2373-2455.

Chana settled higher triggered by strong stockiest demand ahead of festival season

Chana is taking resistance at 2439 and support is seen at 2398.

NCDEX accredited warehouses chana stocks fell by a tonne to 34845 tonnes.

In Delhi spot market, chana fell down by -8.5 rupee to end at 2391.5 rupee per 100 kgs.