Chana as per expectation initially jumped but again came under pressure and likely to hold the pressure in the next couple of sessions as arrivals are rising steadily and ample of stocks and hopes of higher output weighed on sentiment in the market. Supply is continuous from Madhya Pradesh and Rajasthan belt so sentiment are weak, technically 2200.00 level is the strong support level for the market can this look to test the same. India’s chana acreage as on April 8 stood at 8.93 million hectares, compared with 8.36 million hectares in the same period a year ago, farm ministry data showed. For today's session market is looking to take support at 2212, a break below could see a test of 2197 and where as resistance is now likely to be seen at 2249, a move above could see prices testing 2271.

Trading Ideas:

Chana trading range is 2197-2271.

Chana as per expectation initially jumped but again came under pressure and as arrivals are rising steadily

Support for the chana is seen at 2212 and resistance is at 2248.

NCDEX accredited warehouses chana stocks rose by 1299 tonnes to 32089 tonnes.

SELL CHANA MAY @ 2230-2240 SL 2262 TGT 2212-2198.NCDEX

In the Delhi spot market prices settled steady at 2,175 rupees per 100 kg