Chana traded in the range but closed weakby Rs 16 and settled at Rs 2419 per quintal suffering some profit booking after witnessing lower level buying in last couple of days. There are higher production estimates for pulses and higher sowing area expected for chana that is putting pressure on the prices. In Delhi the total arrivals of chana were around 35 motors against 70 motors reported. In Delhi spot market, chana jump up by 21.6 rupee to end at 2393.7 rupee per 100 kgs. The volume was noted at 64230 lots. Support for chana is at 2408 below that could see a test of 2397. Resistance is now seen at 2434 above that could see a resistance of 2449.

Trading Ideas:

Chana trading range is 2397-2449.

Chana settled weak suffering some profit booking

Chana is taking resistance at 2434 and support is seen at 2408.

NCDEX accredited warehouses chana stocks fell 5 tonnes to 27656 tonnes.

In Delhi spot market, chana jump up by 21.6 rupee to end at 2393.7 rupee per 100 kgs.