Chana gained Rs 40 and settled at Rs 2547 per quintal due to improved demand on festive season; however trading activities remained lower in the mandis. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago. Full swing arrivals from Rajasthan are expected across the spot markets from April. Stockist and millers are active across the spot markets accumulating the goods in small quantities. The total arrivals of chana were around 2.50 lakh bags were reported, unchanged from the last day. In Delhi spot market, chana jump up by 11.2 rupee to end at 2511.2 rupee per 100 kgs. The volume was noted at 101350 lots. Support for chana is at 2518 below that could see a test of 2488. Resistance is now seen at 2564 above that could see a resistance of 2580.

Trading Ideas:

Chana trading range is 2487-2579.

Chana gained due to improved demand on festive season

Chana is taking resistance at 2564 and support is seen at 2518.

NCDEX accredited warehouses chana stocks fell by 440 tonnes to 19216 tonnes.

In Delhi spot market, chana jump up by 11.2 rupee to end at 2511.2 rupee per 100 kgs.