Chana dropped Rs 24 and settled at Rs 2612 per quintal weighed by profit-taking, after the pulse gained more than 3 percent in the previous week. However, rising prices of substitutes like tur and urad kept the downside in prices limited. The total production of chana in the current season is estimated at 75 lakh tonnes against 65 lakh tonnes reported last year due to strong gains are likely in Rajasthan. The total arrivals of chana were around 35 motors reported, down 25 motors from the last day. In Delhi spot market, chana fell down by -8.1 rupee to end at 2569.7 rupee per 100 kgs. The volume was noted at 94520 lots. Support for chana is at 2597 below that could see a test of 2583. Resistance is now seen at 2638 above that could see a resistance of 2665.

Trading Ideas:

Chana trading range is 2584-2666.

Chana yesterday ended weighed by profit-taking.

Chana is taking resistance at 2638 and support is seen at 2597.

NCDEX accredited warehouses chana stocks rose 2013 tonnes to 12828 tonnes.

In Delhi spot market, chana fell down by -8.1 rupee to end at 2569.7 rupee per 100 kgs.