Chana dropped Rs 16 and settled at Rs 2184 per quintal as higher kharif area under pulse and fresh arrivals of moong and urad offset a likely rise in domestic festival demand. Hopes of higher sowing of chana in the up-coming season due to good monsoon rains also weighed. Rising supplies of kharif pulses is putting pressure on prices. In Delhi spot market, chana fell down by -9.25 rupee to end at 2240.75 rupee per 100 kgs. The volume was noted at 67330 lots. Support for chana is at 2174 below that could see a test of 2164. Resistance is now seen at 2203 above that could see a resistance of 2222.

Trading Ideas:

Chana trading range is 2164-2222.

Chana ended weak as hopes of higher sowing of chana in up-coming season weighed

Support for the chana is seen at 2174 and resistance is at 2203.

NCDEX accredited warehouses chana stocks fell 222 tonnes to 47572 tonnes.

In Delhi spot market, chana fell down by -11.2 rupee to end at 2238.8 rupee per 100 kgs.