Chana dropped Rs 20 and settled at Rs 2582 per quintal on some profit booking and fear of some possible action by the government to rein in spiraling inflation. Also there is expectation of rise in produce and rains in growing areas in UP, Rajasthan, MP, Maharashtra and Karnataka have improved moisture content of the soil leading to better sowing. In Delhi spot market, chana jump up by 20.25 rupee to end at 2534.2 rupee per 100 kgs. The volume was noted at 77210 lots. Support for chana is at 2569 below that could see a test of 2555. Resistance is now seen at 2604 above that could see a resistance of
2625.

Trading Ideas:

Chana trading range is 2555-2625.

Chana dropped yesterday on some profit booking

Chana is taking resistance at 2604 and support is seen at 2569.

NCDEX accredited warehouses chana stocks rose 1448 tonnes to 9738 tonnes.

SELL CHANA FEB BELOW 2570 SL 2588 TGT 2545-2522-2502. NCDEX

In Delhi spot market, chana jump up by 20.25 rupee to end at 2534.2 rupee per 100 kgs.