Chana erased early gains to end steady as higher area under the pulse outweighed a slight improvement in spot demand and firm pulses. India's chana acreage as on Dec. 27 stood at 7.7 million hectares, compared with 7.26 million hectares in the same period a year ago.

In the Delhi spot market, the price rose by 10 rupees to 2,485 rupees per 100 kg. Chana gained Rs 2 and settled at Rs 2505 per quintal. The volume was noted at 71970 lots. Support for chana is at 2492 below that could see a test of 2480. Resistance is now seen at 2521 above that could see a resistance of 2538.

Trading Ideas:

CHANA TRADING RANGE IS 2460-2560.

CHANA ENDED STEADY AS AREA UNDER PULSE OUTWEIGHED A SLIGHT IMPROVEMENT IN SPOT DEMAND

CHANA ACREAGE AS ON DEC. 27 STOOD AT 7.7 MILLION HECTARES COMPARED WITH 7.26 MILLION HECTARES

SPOT CHANA PRICES GAINED BY 10 RUPEES TO 2485 RUPEES PER 100 KG

BUY CHANA JAN ABV 2510 SL 2485 TGT 2522-2538-2556. NCDEX