Chana dropped Rs 41 and settled at Rs 2625 per quintal weighed by continued profit-taking, though rise in prices of the substitute pulses and output concerns in largest producing state, Madhya Pradesh, capped losses. It may fall much from current levels and recover in the coming sessions on firm demand, and rising prices of tur and urad. The total chana daily arrivals increased to 60 motors from 25 motors reported in the last trading. In Delhi spot market, chana fell down by -62.5 rupee to end at 2657.8 rupee per 100 kgs. The volume was noted at 108120 lots. Support for chana is at 2592 below that could see a test of 2559. Resistance is now seen at 2668 above that could see a resistance of 2711.

Trading Ideas:

Chana trading range is 2560-2712.

Chana dropped weighed by continued profit-taking

Chana is taking resistance at 2668 and support is seen at 2592.

NCDEX accredited warehouses chana stocks fell by 115 tonnes to 18607 tonnes.

SELL CHANA FEB @ 2480 SL 2510 TGT 2455-2420-2390.NCDEX

In Delhi spot market, chana fell down by -62.5 rupee to end at 2657.8 rupee per 100 kgs.