Chana gained Rs 19 and settled at Rs 2546 per quintal supported by domestic demand during the ongoing wedding season, and on the government's higher support price, though rising acreage kept the upside limited. Chana is looking positive because of follow-through buying due to active buying from wholesalers and retailers. Chana acreage in 2010/11 is likely to rise 15-20 percent, due to abundant soil moisture and higher government support price, which is encouraging farmers to increase area under cultivation. In Delhi spot market, chana jump up by 0.35 rupee to end at 2509.45 rupee per 100 kgs. The volume was noted at 71420 lots. Support for chana is at 2522 below that could see a test of 2498. Resistance is now seen at 2563 above that could see a resistance of 2580.

Trading Ideas:

Chana trading range is 2498-2580.

Chana yesterday settled positive supported by domestic demand

Chana is taking resistance at 2563 and support is seen at 2522.

Chana acreage in 2010/11 is likely to rise 15-20 percent

In Delhi spot market, chana jump up by 0.35 rupee to end at 2509.45 rupee per 100 kgs.