Chana ended flat due to rising arrivals in the spot markets and sluggish local demand. Traders expect increasing supplies in spot and regular government intervention to keep chana prices under check. Arrivals of the winter-sown crop will peak in March.  The other subsequent month’s contracts were trading higher on firm trend in other pulses like Tur and Urad. The total arrivals of chana were around 40 motors reported, down 60 motors from the last day. In Delhi spot market, chana fell down by -15.9 rupee to end at 2588.8 rupee per 100 kgs. The volume was noted at 90340 lots. Support for chana is at 2591 below that could see a test of 2574. Resistance is now seen at 2626 above that could see a resistance of 2644.

Trading Ideas:

Chana trading range is 2574-2644.

Chana ended flat due to rising arrivals in the spot markets and sluggish local demand

Chana is taking resistance at 2626 and support is seen at 2591.

NCDEX accredited warehouses chana stocks rose by 179 tonnes 21394 tonnes.  

In Delhi spot market, chana fell down by -15.9 rupee to end at 2588.8 rupee per 100 kgs.