Chana yesterday traded with the positive node and settled 0.72% up at 2532 but some pressure had been seen in the latter session on better production prospects from better rains has been keeping sentiments weak for chana. With Govt extending ban on Pulses exports and apprehensions of further actions for checking price rise, this may pressurize prices in short term. In Indore, a major trading centre in Madhya Pradesh state, chana inched down 3 rupees to end at 2,318 rupees per 100 kg. India has also raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg, the total acreage in 2010/11 is likely to rise by 15-20 percent due to abundant soil moisture and higher government support price, which is encouraging farmers to increase area under cultivation. For today's session market is looking to take support at 2518, a break below could see a test of 2505 and where as resistance is now likely to be seen at 2538, a move above could see prices testing 2545.     Trading Ideas:

Chana trading range is 2504-2544.

Chana ended in the range on pressure due to better production prospects from better rains.

India's pulses production will rise by 2 million tonnes this year, compared to last year.

India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg

SELL CHANA JAN @ 2526-2536 SL 2556 TGT 2506-2485-2470.NCDEX (STBT)

In Delhi spot market, chana fell down by -17 rupee to end at 2400 rupee per 100 kgs.