Chana gained Rs 45 and settled at Rs 2643 per quintal helped by rising prices of substitutes like tur and urad, though hopes of higher output limited the upside. The damage to the Tur crop in Karnataka owing to extended rains also provided support Chana prices in the domestic markets. According to the Ministry report, total Chana production in 2010 stood at 73.6 lakh tonnes against 70.6 lakh tonnes in 2009. In Delhi spot market, chana jump up by 8.95 rupee to end at 2544.45 rupee per 100 kgs. The volume was noted at 95340 lots. Support for chana is at 2611 below that could see a test of 2580. Resistance is now seen at 2660 above that could see a resistance of 2678.

Trading Ideas:

Chana trading range is 2578-2676.

Chana gained helped by rising prices of substitutes like tur and urad

Chana is taking resistance at 2660 and support is seen at 2611.

NCDEX accredited warehouses chana stocks rose 312 tonnes to 10471 tonnes.

In Delhi spot market, chana jump up by 8.95 rupee to end at 2544.45 rupee per 100 kgs.