Chana gained Rs 30 and settled at Rs 2582 per quintal on poor stocks and on hopes of a pick-up in domestic demand. Local demand has improved and is likely to remain firm in short-term.  In the Indore spot market in Madhya Pradesh, chana gained 37 rupees to 2,380 rupees per 100 kg. Chana sowing is progressing well and is expected to weigh on sentiment in long term. The arrivals of Chana in Delhi were 50 trucks as against 70 trucks on previous day. The arrivals have been in the range of 40-50 trucks in the last few days. In Delhi spot market, chana jump up by 17 rupee to end at 2467 rupee per 100 kgs. The volume was noted at 82900 lots. Support for chana is at 2562 below that could see a test of 2542. Resistance is now seen at 2595 above that could see a resistance of 2608.

Trading Ideas:

Chana trading range is 2543-2609.

Chana settled higher on poor stocks and on hopes of a pick-up in domestic demand

Chana is taking resistance at 2595 and support is seen at 2562.

NCDEX accredited warehouses chana stocks rose 1220 tonnes to 17261 tonnes.

BUY CHANA JAN @ 2570-2580 SL 2550 TGT 2610-2634. NCDEX (BTST)

In Delhi spot market, chana jump up by 17 rupee to end at 2467 rupee per 100 kgs.