Chana dropped Rs 15 and settled at Rs 2477 per quintal weighed down by hopes of higher output and delivery in coming month. India's pulses production this year is expected to be at 16.5 million tonnes, up from 14.6 million tonnes in 2009/10, against an average demand of 18 million tonnes, farm minister said at an industry event on Dec. 5. In Indore, a major trading centre in Madhya Pradesh state, chana rose 8 rupees to 2,343.75 rupees per 100 kg. The total arrivals of chana in Delhi were around 50 motors. In Delhi spot market, chana jump up by 5.35 rupee to end at 2438.15 rupee per 100 kgs. The volume was noted at 26180 lots. Support for chana is at 2466 below that could see a test of 2455. Resistance is now seen at 2496 above that could see a resistance of 2515.

Trading Ideas:

Chana trading range is 2455-2515.

Chana settled weak weighed down by hopes of higher output

Chana is taking resistance at 2496 and support is seen at 2466.

The total arrivals of chana in Delhi were around 50 motors.

In Delhi spot market, chana jump up by 5.35 rupee to end at 2438.15 rupee per 100 kgs.