Chana dropped Rs 34 and settled at Rs 2712 per quintal due to higher arrivals in the domestic market, though lower production estimates kept the downside limited. Arrivals of the pulse are expected to pick up in a few weeks, and peak next month. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago. The arrivals in the Lawrence road mandi in Delhi slipped to just 15 trucks. On Wednesday as well, the arrivals stood at just 20-25 trucks. The number of trucks arriving in the Mandi stood around 40-50 one-week back. In Delhi spot market, chana jump up by 8.45 rupee to end at 2685.65 rupee per 100 kgs. The volume was noted at 81740 lots. Support for chana is at 2691 below that could see a test of 2670. Resistance is now seen at 2745 above that could see a resistance of 2778.

Trading Ideas:

Chana trading range is 2670-2778.

Chana dropped due to higher arrivals in the domestic market

Chana is taking resistance at 2745 and support is seen at 2691.

NCDEX accredited warehouses chana stocks rose by 392 tonnes 19528 tonnes.

In Delhi spot market, chana jump up by 8.45 rupee to end at 2685.65 rupee per 100 kgs.