Chana ended flat in anticipation that demand may improve during summer season and marriage activities amid reports that one of the state government's may start buying the pea from this week to help farmers. Prices rose on report some state governments may intervene and start procuring pulses at MSP. The Cabinet Committee on Economic Affairs (CCEA) has increased the Minimum Support Price (MSP) of Chana to Rs 3,100 per quintal from Rs 3,000 per quintal last year. Maharashtra government may start procuring pulse at MSP level from this week while Rajasthan and Madhya Pradesh may start to procure from Mar 15.Chana prices also rose in anticipation of improved demand for marriages and also as availability of leafy vegetables wane in the summer season. Higher arrivals are expected in domestic mandis due to robust sowing. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have been so far pressurizing price for Chana. Better sowing and higher arrival reports for Urad, Tur and Moong are keeping uptrend limited. As per ministry of Agriculture re-ports, as on 24.1.2014, sown area for Rabi Pulses is higher at 156.57 lakh hectare as compared to 149.02 lakh hectare during same period of previous year. Good rains in Pulses growing states of MP and Maharash-tra have been noted this year. In Delhi spot market, chana gained  by 11.55 rupee to end at 2911.55 rupee per 100 kgs. Technically market is under fresh selling as market has witnessed gain in open interest by 1.55% to settled at 88830 while prices remain unchange0 rupee, now Chana is getting support at 3013 and below same could see a test of 3001 level, And resistance is now likely to be seen at 3033, a move above could see prices testing 3041.

Trading Ideas:

Chana trading range for the day is 3000-3040.

Chana settled flat in anticipation that demand may improve during summer season and marriage activities

Prices seen supported on report some state governments may intervene and start procuring pulses at MSP.

NCDEX accredited warehouses chana stocks gained by 193 tonnes to 13201 tonnes.

In Delhi spot market, chana gained  by 11.55 rupee to end at 2911.55 rupee per 100 kgs.