Chana shed nearly three percent tracking a fall in the physical market after arrivals started gaining momentum from major producing states. Arrivals were rising steadily in major spot markets like Indore, Nagpur, Delhi, Latur and Gulbarga. Prices have corrected significantly due to arrivals, but stockists are not buying actively due to stock limits. In the Delhi spot market, price dropped 21 rupees to 2,150 rupees per 100 kg. Chana dropped Rs 64 and settled at Rs 2094 per quintal. The volume was noted at 77510 lots. Support for chana is at 2071 below that could see a test of 2047. Resistance is now seen at 2141 above that could see a resistance of 2187.

Trading Ideas:

Chana trading range is 2047-2187.

Chana ended weak tracking a fall in the physical market after arrivals started gaining momentum

Arrivals were rising steadily in major spot markets

NCDEX accredited warehouses chana stocks fell by 87 tonnes at 27817 tonnes.

SELL CHANA MAR @ 2115-2125  SL 2144 TGT 2098-2080-2060.NCDEX

In the Delhi spot market dropped 21 rupees to 2,150 rupees per 100 kg