Chana dropped Rs 12 and settled at Rs 2546 per quintal on apprehensions of Government taking steps to control food prices rates after a sharp surge in food price inflation, also the reports of better crop was negated by falling arrivals in the mandis as demand remained moderate. India's pulses production this year is expected to rise by 2 million tonnes from last year's level. In Delhi spot market, chana jump up by 5.35 rupee to end at 2468.35 rupee per 100 kgs. The volume was noted at 28360 lots. Support for chana is at 2535 below that could see a test of 2524. Resistance is now seen at 2564 above that could see a resistance of 2582.

Trading Ideas:

Chana trading range is 2524-2582.

Chana ended down on apprehensions of Government taking steps to control food prices

Chana is taking resistance at 2564 and support is seen at 2535.

NCDEX accredited warehouses chana stocks stood at 7941 tonnes.

SELL CHANA FEB @ 2560 SL 2590 TGT 2538-2510.NCDEX

In Delhi spot market, chana jump up by 5.35 rupee to end at 2468.35 rupee per 100 kgs.