Chana gained Rs 22 and settled at Rs 2427 per quintal on festive demand and government support prices, but higher output estimates limited gains. India has raised minimum support price (MSP) of chana by 19.3 percent to 2,100 rupees per 100 kg. According to government estimates, production of chana is likely to be 7.35 million tonnes as against 7.06 million tonnes last year. In Delhi spot market, chana jump up by 15.55 rupee to end at 2375 rupee per 100 kgs. The volume was noted at 66230 lots. Support for chana is at 2409 below that could see a test of 2391. Resistance is now seen at 2438 above that could see a resistance of 2449.

Trading Ideas:

Chana trading range is 2391-2449.

Chana yesterday settled positive on festive demand and government support prices

Chana is taking resistance at 2438 and support is seen at 2409.

NCDEX accredited warehouses chana stocks fell 3 tonnes to 34542 tonnes.

In Delhi spot market, chana jump up by 15.55 rupee to end at 2375 rupee per 100 kgs.