Chana dropped Rs 34 and settled at Rs 2528 per quintal weighed by hopes of higher output and deliveries in the coming month. Arrivals are likely to get delayed as unseasonal rains in October and November had delayed sowing of the winter pulse. India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg. Total arrivals of chana were around 35 motors in Delhi mandi. In Delhi spot market, chana fell down by -14.15 rupee to end at 2485.85 rupee per 100 kgs. The volume was noted at 47570 lots. Support for chana is at 2517 below that could see a test of
2505. Resistance is now seen at 2550 above that could see a resistance of 2571.

Trading Ideas:

Chana trading range is 2505-2571.

Chana settled lower weighed by hopes of higher output

Chana is taking resistance at 2550 and support is seen at 2517.

NCDEX accredited warehouses chana stocks fell 2 tonnes to 17591 tonnes.

In Delhi spot market, chana fell down by -14.15 rupee to end at 2485.85 rupee per 100 kgs.