Chana gained Rs 3 and settled at Rs 2396 per quintal on increased government intervention and domestic demand but higher output estimates limited the gains. According to government estimates, production of chana is likely to be 7.35 million tonnes as against 7.06 million tonnes last year. India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg. In Delhi spot market, chana fell down by -13.35 rupee to end at 2363.8 rupee per 100 kgs. The volume was noted at 81770 lots. Support for chana is at 2385 below that could see a test of 2374. Resistance is now seen at 2410 above that could see a resistance of 2424.

Trading Ideas:

Chana trading range is 2374-2424.

Chana settled slightly up on increased government intervention and domestic demand

Chana is taking resistance at 2410 and support is seen at 2385.

NCDEX accredited warehouses chana stocks fell 122 tonnes to 34549 tonnes.

In Delhi spot market, chana fell down by -13.35 rupee to end at 2363.8 rupee per 100 kgs.