Chana gained Rs 7 and settled at Rs 2547 per quintal helped by the demand from the local stockists at lower levels, as the stockists are holding lower stocks. The commodity prices were under pressure for last couple of days on reports of improved acreage. Rainfall has delayed sowing, and in some areas like Andhra Pradesh, it has damaged crop in some pockets. The delay will support prices in the short term. In Delhi spot market, chana jump up by 8.35 rupee to end at 2450 rupee per 100 kgs. The volume was noted at 46060 lots. Support for chana is at 2537 below that could see a test of 2526. Resistance is now seen at 2556 above that could see a resistance of 2564.

Trading Ideas:

Chana trading range is 2527-2565.

Chana settled positive helped by the demand from the local stockists at lower levels

Chana is taking resistance at 2556 and support is seen at 2537.

NCDEX accredited warehouses chana stocks fell 2 tonnes to 17593 tonnes.

In Delhi spot market, chana jump up by 8.35 rupee to end at 2450 rupee per 100 kgs.