Chana dropped on higher output hopes, but domestic demand and government support prices limited losses. North Indian markets are witnessing some buying. But prices were not likely to rise much as output is likely to be higher. According to government estimates, production of chana is likely to be 7.35 million tonnes as against 7.06 million tonnes last year. In Delhi the total arrivals of chana were around 30 motors reported. In Delhi spot market, chana fell down by -18.75 rupee to end at 2425 rupee per 100 kgs. The volume was noted at 113880 lots. Support for chana is at 2435 below that could see a test of 2412. Resistance is now seen at 2496 above that could see a resistance of 2534.

Trading Ideas:

Chana trading range is 2413-2535.

Chana settled weak on higher output hopes

Chana is taking resistance at 2472 and support is seen at 2435.

NCDEX accredited warehouses chana stocks rose 101 tonnes to 27676 tonnes.

In Delhi spot market, chana fell down by -18.75 rupee to end at 2425 rupee per 100 kgs.