Chana gained Rs 6 and settled at Rs 2383 per quintal supported by a rise in domestic demand during ongoing festivals. Traders expect the demand to continue during the upcoming wedding season. According to the latest estimates, the production of chana in 2009/10 is likely to be 7.35 million tonnes against 7.06 million tonnes last year, official data showed. In Delhi spot market, chana jump up by 22.5 rupee to end at 2337.5 rupee per 100 kgs. The volume was noted at 99280 lots. Support for chana is at 2368 below that could see a test of 2353. Resistance is now seen at 2397 above that could see a resistance of 2411.

Trading Ideas:

Chana trading range is 2353-2411.

Chana settled positive supported by a rise in domestic demand during ongoing festivals

Chana is taking resistance at 2397 and support is seen at 2368.

NCDEX accredited warehouses chana stocks rose 7 tonnes to 32462 tonnes.

In Delhi spot market, chana jump up by 22.5 rupee to end at 2337.5 rupee per 100 kgs.