Chana dropped Rs 109 and settled at Rs 2625 per quintal as the demand too is not picking up. Chana acreage stands at around 87.79 lakh hectares compared with 81.89 lakh hectares in same period last year. Also the Chana production in 2010 stood at 73.6 lakh tonnes against 70.6 lakh tonnes in 2009. However, expected delay in arrivals of the new crop is likely to keep sentiments up. The total daily arrivals were hovering at higher levels of around 55 motors. Traders are anticipating strong arrivals in the coming days due to fresh supplies from Madhya Pradesh and Rajasthan in the near term. In Delhi spot market, chana fell down by -28.35 rupee to end at 2646.65 rupee per 100 kgs. The volume was noted at 120270 lots. Support for chana is at 2591 below that could see a test of 2557. Resistance is now seen at 2693 above that could see a resistance of 2761.

Trading Ideas:

Chana trading range is 2558-2762.

Chana dropped as the demand too is not picking up.

Chana is taking resistance at 2652 and support is seen at 2600

NCDEX accredited warehouses chana stocks rose by 60 tonnes 20677 tonnes.

In Delhi spot market, chana fell down by -28.35 rupee to end at 2646.65 rupee per 100 kgs.