Chana ended flat after rising earlier in the day on bargain-buying after losing nearly 5 percent from their contract high in the previous week. However, hopes of a rise in arrivals kept the upside limited. There is fresh buying after last week's correction, though fundamentals remain unchanged. Reports of delayed arrivals from AP and Karnataka due to the unseasonal rains last year along with reports of fall in production have been there. Overall production of chana this year however is expected to be higher Floods in Australia are reportedly affecting the crop there also leading to lower imports from Indian subcontinent. The total daily arrivals of chana were hovering at higher levels of around 50-55 motors from the last two trading days. Delhi spot market, chana fell down by -5.15 rupee to end at 2637.05 rupee per 100 kgs. The volume was noted at 58730 lots. Support for chana is at 2601 below that could see a test of 2587. Resistance is now seen at 2634 above that could see a resistance of 2653.

Trading Ideas:

Chana trading range is 2586-2652.

Chana ended flat after rising earlier in the day on bargain-buying

Chana is taking resistance at 2634 and support is seen at 2601.

NCDEX accredited warehouses chana stocks remained at 18320 tonnes.

SELL CHANA FEB BELOW 2600 SL 2622 TGT 2578-2556. NCDEX

In Delhi spot market, chana fell down by -5.15 rupee to end at 2637.05 rupee per 100 kgs.