Chana gained Rs 31 and settled at Rs 2759 per quintal helped by a likely delay in arrivals and good wedding demand while rising prices of substitutes such as urad and tur also supported the rise.  Demand from the local market is firm ahead of the wedding season. Arrivals are expected to get delayed by 10-15 days this year due to the unseasonal rains. All the major mandies of Maharashtra, Andhra Pradesh and Karnataka reported the total daily arrivals of chana were around 25000-30000 bags against the normal arrivals of 40000-45000 bags were reported last year in the same time. In Delhi spot market, chana jump up by 115.25 rupee to end at 2739.3 rupee per 100 kgs. The volume was noted at 116040 lots. Support for chana is at 2731 below that could see a test of 2702. Resistance is now seen at 2794 above that could see a resistance of 2828.

Trading Ideas:

Chana trading range is 2704-2830.

Chana rose helped by a likely delay in arrivals and good wedding demand

Chana is taking resistance at 2794 and support is seen at 2731.

Arrivals are expected to get delayed by 10-15 days this year due to the unseasonal rains.

BUY CHANA FEB ABV 2770 SL 2746 TGT 2795-2812-2834.NCDEX

In Delhi spot market, chana jump up by 115.25 rupee to end at 2739.3 rupee per 100 kgs.