Chana dropped Rs 5 and settled at Rs 2284 per quintal on estimates of higher kharif pulses production and pressure from fresh arrivals of moong and urad. However, a rise in the domestic demand in the on-going festival season and coming marriage season supported prices in the far month contract. Enquiries from dal millers have improved and this may support prices. In Delhi spot market, chana jump up by 43.4 rupee to end at 2343.4 rupee per 100 kgs. The volume was noted at 114050 lots. Support for chana is at 2272 below that could see a test of 2261. Resistance is now seen at 2301 above that could see a resistance of 2319.

Trading Ideas:

Chana trading range is 2261-2319.

Chana settled slightly weak on estimates of higher kharif pulses production

Chana is taking resistance at 2301 and support is seen at 2272.

Spread between Chana OCT & NOV contracts yesterday traded in the range of 33 to 36.

In Delhi spot market, chana jump up by 43.4 rupee to end at 2343.4 rupee per 100 kgs.