Chana ended flat recovering from losses on the back of good local demand as the marriage season has kept trend firm for chana in the spot and the futures market despite the rise in arrivals and  the near term trend are expected to remain firm. Demand is good in the physical market. India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg. In Delhi spot market, chana jump up by 16.1 rupee to end at 2497.85 rupee per 100 kgs. The volume was noted at 71850 lots. Support for chana is at 2476 below that could see a test of 2460. Resistance is now seen at 2508 above that could see a resistance of 2524.

Trading Ideas:

Chana trading range is 2460-2524.

Chana ended flat recovering from losses on the back of good local demand

Chana is taking resistance at 2508 and support is seen at 2476.

Spread between Chana DEC & JAN contracts yesterday traded in the range of 71 to 73.

In Delhi spot market, chana jump up by 16.1 rupee to end at 2497.85 rupee per 100 kgs.