Chana dropped Rs 33 and settled at Rs 2199 per quintal triggered by subdued demand in the spot market. Hopes of higher output aided by an expansion in acreage and good rains hurt the sentiment. As on Aug. 19, area under kharif stood at 10.58 million hectares, compared to 8.8 million hectares a year ago. In Delhi spot market, chana fell down by -14.5 rupee to end at 2242.15 rupee per 100 kgs. The volume was noted at 88480 lots. Support for chana is at 2186 below that could see a test of 2173. Resistance is now seen at 2224 above that could see a resistance of 2249.

Trading Ideas:

Chana trading range is 2174-2250.

Chana ended lower triggered by subdued demand in the spot market.

Support for the chana is seen at 2173 and resistance is at 2224.

NCDEX accredited warehouses chana stocks rose 49 tonnes to 47486 tonnes.

In Delhi spot market, chana fell down by -14.5 rupee to end at 2242.15 rupee per 100 kgs.