Chana dropped Rs 6 and settled at Rs 2265 per quintal depressed by weak spot demand, higher output and gathering momentum of sowing of kharif pulses. Sowing is picking up in Maharashtra and Madhya Pradesh due to revival in monsoon rains. In the Delhi spot market, chana fell by 26 rupees to 2,174 rupees per 100 kg. The volume was noted at 53840 lots. Support for chana is at 2253 below that could see a test of 2241. Resistance is now seen at 2279 above that could see a resistance of 2293.

Trading Ideas:

Chana trading range is 2241-2293.

Chana ended weak depressed by weak spot demand

Support for the chana is seen at 2253 and resistance is at 2279.

NCDEX accredited warehouses chana stocks rose 229 tonnes to 55034 tonnes.

SELL CHANA AUG @ 2265-2275 SL 2300 TGT 2245-2230.NCDEX

In Delhi spot prices dropped 26 rupees and settled at 2,174 rupees per 100 kg