Chana prices dropped as the prospects of higher production from reportedly satisfactory sowing activities in growing states are putting some pressure on the prices; however the demand remained moderate in the mandis. The Lawrence Road Mandi witnessed arrivals of 70 trucks as against around 40-50 trucks in the last week. In Indore, a major trading centre in Madhya Pradesh, chana fell 13 rupees to 2,341 rupees per 100 kg due to estimates of higher output. In Delhi spot market, chana fell down by -40.4 rupee to end at 2445.45 rupee per 100 kgs. The volume was noted at 92080 lots. Support for chana is at 2515 below that could see a test of 2507. Resistance is now seen at 2535 above that could see a resistance of 2547.

Trading Ideas:

Chana trading range is 2508-2548.

Chana settled down as the prospects of higher production putting some pressure

Chana is taking resistance at 2535 and support is seen at 2515.

NCDEX accredited warehouses chana stocks fell 1547 tonnes to 16044 tonnes.

In Delhi spot market, chana fell down by -45.6 rupee to end at 2440.25 rupee per 100 kgs.