Chana dropped Rs 3 and settled at Rs 2193 per quintal on hopes of higher output. But good spot demand amid a decline in the arrivals supported the prices. Demand has improved in the physical market and it may improve further in the rainy season. In the spot, selling has reduced on hopes of good upside movement in coming days. In Delhi spot market, chana gained 27 rupees to end at 2,143 rupees per 100 kg. The volume was noted at 85960 lots. Support for chana is at 2184 below that could see a test of 2176. Resistance is now seen at 2205 above that could see a resistance of 2218.

Trading Ideas:

Chana trading range is 2176-2218.

Chana yesterday ended weak on hopes of higher output

Support for the chana is seen at 2184 and resistance is at 2205.

NCDEX accredited warehouses chana stocks jumped 446 tonnes to 52692 tonnes.

BUY CHANA JULY ON DIP @ 2180 SL 2160 TGT 2200-2225.NCDEX

In Delhi spot prices gained 27 rupees and settled at 2,143 rupees per 100 kg.