Chana dropped Rs 31 and settled at Rs 2498 per quintal on higher production estimates for pulses and higher sowing area expected for chana, demand too remained moderate in the mandis. Traders are expecting some more dips before demand picks up at lower levels. About 15,000 tonnes of chana is expected to get delivered either in the forward or spot market in Delhi and Indore by Jan. 5. In Indore, a major trading centre in Madhya Pradesh state, chana rose 33.90 rupees to 2,352.25 rupees per 100 kg. In Delhi spot market, chana fell down by -20 rupee to end at 2450 rupee per 100 kgs. The volume was noted at 48130 lots. Support for chana is at 2483 below that could see a test of 2468. Resistance is now seen at 2521 above that could see a resistance of 2544.

Trading Ideas:

Chana trading range is 2468-2544.

Chana settled weak on higher production estimates for pulses

Chana is taking resistance at 2520 and support is seen at 2480.

About 15,000 tonnes of chana is expected to get delivered in Delhi and Indore by Jan. 5

In Delhi spot market, chana fell down by -20 rupee to end at 2450 rupee per 100 kgs.