Chana ended flat as profit-taking erased gains due to weak arrivals in the spot market, firm prices of other pulses and concerns acreage may drop. Farmers are likely to expand area in top producer Madhya Pradesh, whereas on Nov. 16 acreage stood at 2.657 million hectares compared to 2.226 million hectares a year ago. In the Delhi spot market, the price climbed by 37 rupees to 2,525 rupees per 100 kg. Chana dropped Rs 3 and settled at Rs 2649 per quintal.

The volume was noted at 92640 lots. Support for chana is at 2634 below that could see a test of 2618. Resistance is now seen at 2675 above that could see a resistance of 2700.

Trading Ideas:

CHANA TRADING RANGE IS 2600-2700.

CHANA ENDED FLAT AS PROFIT-TAKING ERASED GAINS DUE TO WEAK ARRIVALS

BUY CHANA DEC @ 2620-2640 SL 2600 TGT 2665-2680-2699. NCDEX

NOW RES IS AT 2675 ABV THIS NEXT RES IS AT 2700-2722.

IN DELHI PRICES ROSE OVER BY 37 RUPEES TO 2525 RUPEES PER 100 KG