Chana dropped Rs 11 and settled at Rs 2304 per quintal on higher area under kharif pulses and forecast of good rains in next two months. As on July 29, area under kharif stood at 8.736 million hectares, compared to 7.545 million hectares a year ago. In Delhi spot market, chana fell by 15 rupees to 2,275 rupees per 100 kg. Rains are helping kharif pulses. If rainfall remains good in August-September, it will also help chana crop. The volume was noted at 65330 lots. Support for chana is at 2286 below that could see a test of 2267. Resistance is now seen at 2323 above that could see a resistance of 2341.

Trading Ideas:

Chana trading range is 2267-2341.

Chana ended lower on higher area under kharif pulses and forecast of good rains

Support for the chana is seen at 2286 and resistance is at 2323.

NCDEX accredited warehouses chana stocks rose by 274 tonnes to 58127 tonnes.

In Delhi spot prices fell 15 rupees and settled at 2,275 rupees per 100 kg