Chana settled -0.69% down at 3444 eased due to an increase in supplies from the new season crop and expectations of higher production. Earlier chana gained as apprehensions of weather disturbance over next few days in North and North-West India helped support the market sentiments. Rains could again adversely affect the arrivals in the mandis leading to moderate recovery in prices. As per 2nd Advanced Government Estimates released, Pulses production is likely to rise to 17.58mts in 2012-13 up from 17.09mts in 2011-12. Production of all major Pulses-Chana, Tur, Urad and Moong-are expected to rise this year. Pulses sown area has reportedly risen to 148.13 lakh ha in 2012-13 vs 147.42 lakh ha in 2011-12. Sown area for Chana has reportedly increased to 94.78 lakh ha vs 89.92 lakh ha in corresponding periods Good weather conditions in growing areas in MP, Maharashtra and Rajasthan have been responsible for the improved productivity and production prospects Regular imports are also preventing major uptrend for Chana rates. In Delhi spot market, chana jump up by 19.25 rupee to end at 3650 rupee per 100 kgs. For today's session market is looking to take support at 3425, a break below could see a test of 3405 and where as resistance is now likely to be seen at 3476, a move above could see prices testing 3507.

Trading Ideas:

Chana trading range for the day is 3405-3507.

Chana dropped due to an increase in supplies from the new season crop and expectations of higher production.

As per 2nd Advanced Govt Estimates released, Pulses production is likely to rise to 17.58mts vs 17.09mts in 2012-13.

Good weather conditions in growing areas have been responsible for the improved productivity

In Delhi spot market, chana jump up by 19.25 rupee to end at 3650 rupee per 100 kgs.