Chana gained Rs 42 and settled at Rs 3600 per quintal owing to potential threat of crop damage in Rajasthan and Madhya Pradesh, its major producers, due to cold wave conditions. There could be crop damage due to severe cold wave conditions. The first advance estimates from the farm ministry show the output of kharif, or summer-sown pulses, could fall to 5.26 million tonnes from 6.16 million tonnes a year earlier. Moreover, fresh supplies of imported chana from Australia and Tanzania also added some selling in domestic market. Sources suggested that around 30-32 thousand tonnes of chana have arrived in the domestic ports in the last one week with the price range of Rs 3500-3550 per quintal. The total stocks of around 6-7 lakh tonnes of chana reported in major mandies against 10-11 lakh tonnes that were reported last year in the same period. This is mainly due to poor chana production in the last season. The total stocks of around 6-7 lakh tonnes of chana reported in major mandies against 10-11 lakh tonnes that were reported last year in the same period. This is mainly due to poor chana production in the last season. In Delhi spot market, chana jump up by 36.65 rupee to end at 3986.65 rupee per 100 kgs. The volume was noted at 40610 lots. Support for chana is at 3560 below that could see a test of 3520. Resistance is now seen at 3628 above that could see a resistance of 3656.

Trading Ideas:

Chana  trading range for the day is 3520-3656.

Chana ended with gains owing to potential threat of crop damage in Rajasthan and Madhya Pradesh, due to cold wave conditions

Fresh supplies of imported chana from Australia and Tanzania also added some selling in domestic market.

NCDEX accredited warehouses chana stocks dropped by 2177 tonnes to 14937 tonnes.

In Delhi spot market, chana jump up by 36.65 rupee to end at 3986.65 rupee per 100 kgs.