Chana dropped Rs 13 and settled at Rs 2618 per quintal weighed by rising arrivals in the spot markets and sluggish local demand. Daily supplies are rising day by day. The total arrivals of chana were around 20 motors reported, down 10 motors from the last day. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago. In Delhi spot market, chana jump up by 10.65 rupee to end at 2610.65 rupee per 100 kgs. The volume was noted at 35180 lots. Support for chana is at 2608 below that could see a test of 2599. Resistance is now seen at 2631 above that could see a resistance of 2645.

Trading Ideas:

Chana trading range is 2599-2645.

Chana dropped weighed by rising arrivals in the spot markets

Chana is taking resistance at 2640 and support is seen at 2590

NCDEX accredited warehouses chana stocks rose by 1189 tonnes 22583 tonnes.  

SELL CHANA MAR BELOW 2600 SL 2638 TGT 2572-2554-2532.NCDEX (STBT)

In Delhi spot market, chana jump up by 10.65 rupee to end at 2610.65 rupee per 100 kgs.