Chana dropped Rs 7 and settled at Rs 2632 per quintal as profit-taking kicked in after the pulse gained 3.2 percent in the previous week. However rising prices of subsitute pulses like tur and urad kept the downside limited. India's pulses production this year is expected to rise by 2 million tonnes from last year's level. The total arrivals of chana were around 50 motors reported today, up 25 motors from the last day. In Delhi spot market, chana jump up by 33.35 rupee to end at 2577.8 rupee per 100 kgs. The volume was noted at 86890 lots. Support for chana is at 2618 below that could see a test of 2604. Resistance is now seen at 2650 above that could see a resistance of 2668.

Trading Ideas:

Chana trading range is 2605-2669.

Chana yesterday ended down on profit booking.

Chana is taking resistance at 2650 and support is seen at 2618.

NCDEX accredited warehouses chana stocks rose 344 tonnes to 10815 tonnes.

BUY CHANA FEB @ 2625 SL 2603 TGT 2648-2665.NCDEX (BTST)

In Delhi spot market, chana jump up by 33.35 rupee to end at 2577.8 rupee per 100 kgs.