Chana gained Rs 79 and settled at Rs 3427 per quintal on lower-level buying though arrivals from the new season crop and prospects of higher production capped the gains. Supplies from the new crop have started arriving in Andhra Pradesh, Karnataka, Maharashtra and Madhya Pradesh, and are likely to rise further. Traders expect fresh demand for the upcoming holi festival to lend support to prices. Indians will celebrate holi on March 27. Delhi Chana arrivals maintained a modest undertone but weak demand is taking a toll on market sentiments. The arrivals of the commodity had hit 50 trucks in the Lawrence Road mandie in Delhi on Monday but have trended lower in last two days. Total arrivals were 30 trucks today as compared to 25 trucks yesterday. The fall in the arrivals in today's trade could be a short lived one and the arrivals in New Chana are likely to maintain a similar trend in the current week. The demand for other pulses like Tur and Urad is stable. Arrivals will gradually pick up in mandis thus in short term sentiments may remains subdued. But traders anticipate some pick up in demand ahead of the Festive season later this month. In Delhi spot market, chana fell down by -50 rupee to end at 3450 rupee per 100 kgs. The volume was noted at 83300 lots. Support for chana is at 3361 below that could see a test of 3294. Resistance is now seen at 3468 above that could see a resistance of 3508.

Trading Ideas:

Chana  trading range for the day is 3294-3508.

Chana rose on lower-level buying though prospects of higher production capped the gains.

Supplies from the new crop have started arriving in AP, Karnataka, Maharashtra and MP, and are likely to rise further.

Sources expect fresh demand for the upcoming holi festival to lend support to prices.

In Delhi spot market, chana fell down by -50 rupee to end at 3450 rupee per 100 kgs.