Chana dropped Rs 4 and settled at Rs 2151 per quintal as estimates of higher output and ample stocks offset slight improvement in the spot demand. Any major movement is not expected in chana futures as demand is average in the spot market. In Delhi spot market, chana gained 3 rupees to end at 2,118 rupees per 100 kg. The volume was noted at 45260 lots. Support for chana is at 2143 below that could see a test of 2135. Resistance is now seen at 2163 above that could see a resistance of 2175.

Trading Ideas:

Chana trading range is 2135-2175.

Chana dropped as ample stocks offset slight improvement in spot demand

Support for the chana is seen at 2143 and resistance is at 2163.

NCDEX accredited warehouses chana stocks jumped 605 tonnes to 51041 tonnes.

SELL CHANA JULY @ 2165 SL 2182 TGT 2145-2122.NCDEX

In Delhi spot prices jumped 3 rupees and settled at 2,118 rupees per 100 kg