Chana dropped Rs 32 and settled at Rs 2525 per quintal on concerns government might intervene to calm food prices and on estimates of higher production. Long liquidation is seen in the market on concerns that government may take some steps to control the rising food prices. India's pulses production will rise by 2 million tonnes this year, compared to last year. In Indore, a major trading centre in Madhya Pradesh state, chana fell 29 rupee to end at 2,329 rupees per 100 kg. Total arrivals of chana in Delhi were around 40 motors. In Delhi spot market, chana fell down by -50.85 rupee to end at 2423.6 rupee per 100 kgs. The volume was noted at 74270 lots. Support for chana is at 2509 below that could see a test of 2494. Resistance is now seen at 2544 above that could see a resistance of 2564.

Trading Ideas:

Chana trading range is 2494-2564.

Chana settled lower on concerns government might intervene to calm food prices

Chana is taking resistance at 2544 and support is seen at 2509.

NCDEX accredited warehouses chana stocks rose 19 tonnes to 17260 tonnes.

In Delhi spot market, chana fell down by -50.85 rupee to end at 2423.6 rupee per 100 kgs.