Chana hit fresh contract lows on pressure from arrivals, estimates of higher production and sufficient stocks. Demand in chana dal is not picking up as traders are expecting more correction in the prices. In Delhi spot market, chana slipped 7 rupees to end at 2,143 rupees per 100 kg. Chana dropped Rs 20 and settled at Rs 2222 per quintal. The volume was noted at 87710 lots. Support for chana is at 2206 below that could see a test of 2190. Resistance is now seen at 2249 above that could see a resistance of 2276.

Trading Ideas:

Chana trading range is 2190-2276.

Chana hit fresh contract lows on estimates of higher production

Support for the chana is seen at 2206 and resistance is at 2249.

NCDEX accredited warehouses chana stocks rose by 204 tonnes to 39328 tonnes.

In the Delhi spot market prices dropped 7 rupees at 2,143 rupees per 100 kg

SELL CHANA JUNE @ 2225-2235 SL 2248 TGT 2206-2190.NCDEX