Commodity Outlook for Chana by KediaCommodity
Chana gained Rs 38 and settled at Rs 2547 per quintal on the back of higher production estimates for pulses and higher sowing area expected for chana. But the ongoing marriage season demand has kept the spirit high. The arrivals in the market is falling short of demand, and most of the arrivals are from Madhya Pradesh.
The total arrivals of chana were 50 trucks, down from 60 trucks yesterday. The arrivals are still slightly higher than the 40-50 trucks witnessed around one week back. In Delhi spot market, chana fell down by -2.6 rupee to end at
2464.75 rupee per 100 kgs. The volume was noted at 59200 lots. Support for chana is at 2512 below that could see a test of 2478.
Resistance is now seen at 2568 above that could see a resistance of 2590. Trading Ideas: Chana trading range is 2478-2590. Chana settled higher on the back of higher production estimates for pulses Chana is taking resistance at 2568 and support is seen at 2512. The total arrivals of chana were 50 trucks, down from 60 trucks previously. In Delhi spot market, chana fell down by -2.6 rupee to end at 2464.75 rupee per 100 kgs.