Chana dropped Rs 60 and settled at Rs 2323 per quintal on good rainfall in kharif pulses growing areas and forecast of more rains in the next two days. In Delhi spot market, chana fell 14 rupees to end at 2,261 rupees per 100 kg. According to the fourth advance estimates, the production of chana (gram) in 2009-10, is likely to be 7.35 million tonnes against the actual production of 7.06 million tonnes last year.  The volume was noted at 136520 lots. Support for chana is at 2295 below that could see a test of 2268. Resistance is now seen at 2365 above that could see a resistance of 2408.

Trading Ideas:

Chana trading range is 2268-2408.

Chana ended lower on good rainfall in kharif pulses growing areas

Support for the chana is seen at 2295 and resistance is at 2346.

Spread between Chana AUG & SEP contracts yesterday traded in the range of 54 to 67.

In Delhi spot prices fell by 14 rupees and settled at 2,261 rupees per 100 kg