Chana struck fresh contract lows as rising arrivals from Madhya Pradesh, weak demand and estimates of higher production weighed on sentiment. Abundant supply is coming from Madhya Pradesh. Daily arrivals have risen to 50-55 trucks against 20-25 trucks last week. In Delhi spot market, chana dropped 23 rupees to end at 2,109 rupees per 100 kg. Chana dropped Rs 43 and settled at Rs 2173 per quintal. The volume was noted at 74540 lots. Support for chana is at 2154 below that could see a test of 2135. Resistance is now seen at 2207 above that could see a resistance of 2241.

Trading Ideas:

Chana trading range is 2135-2241.

Chana struck fresh contract lows as rising arrivals from Madhya Pradesh and weak demand

Support for the chana is seen at 2154 and resistance is at 2207.

NCDEX accredited warehouses chana stocks fell by 1757 tonnes to 38061 tonnes.

CHANA BELOW 2200 LOOK TO HOLD SUPPORT AT 2170-2156 LEVEL.NCDEX

In the Delhi spot market prices dropped 23 rupees at 2,109 rupees per 100 kg