Chana gained Rs 5 and settled at Rs 2304 per quintal on some buying interest at lower levels after falling in the last two sessions, though higher area under kharif pulses and rains in growing regions weighed. Rains are putting pressure on the prices. In Delhi spot market, chana slipped 16 rupees to end at 2,259 rupees per 100 kg. According to the fourth advance estimates, the production of chana in 2009-10 is likely to be 7.35 million tonnes against 7.06 million tonnes last year. The volume was noted at 52820 lots. Support for chana is at 2293 below that could see a test of 2283. Resistance is now seen at 2315 above that could see a resistance of 2327.

Trading Ideas:

Chana trading range is 2283-2327.

Chana ended firm on some buying interest at lower levels

Support for the chana is seen at 2293 and resistance is at 2315.

NCDEX accredited warehouses chana stocks rose by 210 tonnes to 58337 tonnes.

In Delhi spot prices fell 17 rupees and settled at 2,259 rupees per 100 kg