Chana gained Rs 3 and settled at Rs 2460 per quintal as support from firm domestic demand was offset by hopes of higher output. The production prospects have been good this year and even arrivals are good in the market. Though, the demand remains steady in the mandis for the commodity. The 1st Advanced Estimates of crop production for Year 2010-11 puts a significant projected rise in Kharif Pulses production at 6 million tones. The total arrivals of chana in Delhi were around 50 motors against 60 motors reported. In Delhi spot market, chana rose by 0.10 rupee to end at 2400 rupee per 100 kgs. The volume was noted at 20050 lots. Support for chana is at 2447 below that could see a test of 2433. Resistance is now seen at 2471 above that could see a resistance of 2481.

Trading Ideas:

Chana trading range is 2433-2481.

Chana settled flat as support from firm domestic demand was offset by hopes of higher output

Chana is taking resistance at 2472 and support is seen at 2448.

NCDEX accredited warehouses chana stocks rose 379 tonnes to 17595 tonnes.

In Delhi spot market, chana fell down by 0 rupee to end at 2400 rupee per 100 kgs.