Chana settled up by 0.3% at 4741 as pick up in demand in mandis supported the prices. Prices also seen supported as availability of chana is falling in Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra. As per sources, fall in stocks is seen gradually and moreover, there is much time for new crop arrival. With good progress of monsoon across the nation and festive season around the corner we expect the demand for dal and besan to remain strong. India's 2014-15 pulses output declined 11% to 17.20 million ton due to weak monsoon and adverse weather during Feb-Mar according to fourth advance estimates released by agriculture ministry. Australian chickpea markets have firmed this year following last year's crop failure in India. Australia normally exports around 95% of its chickpea crop to countries like India, Bangladesh and UAE. While according to the latest govt data, country has imported about 39,270 tonnes of chana in April 2015 and 4.19 lt during MY 2014-15, which is more than 51.8 per cent higher than the quantity imported in the entire MY 2013-14. Total import of chana in 2013-14 stood at 2.76 lakh tonnes. Center has asked, state governments, to control the domestic prices and take stringent action against hoarders and boost supply. In Delhi spot market, chana gained by 133.4 rupee to end at 4833.4 rupee per 100 kgs. Technically market is under short covering as market has witnessed drop in open interest by -1.18% to settled at 154820 while prices up 14 rupee, now Chana is getting support at 4719 and below same could see a test of 4696 level, And resistance is now likely to be seen at 4774, a move above could see prices testing 4806.

Trading Ideas:

Chana trading range for the day is 4696-4806.

Chana prices ended with gains as pick up in demand in mandis supported the prices.

Prices also seen supported as availability of chana is falling in Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra.

NCDEX accredited warehouses chana stocks dropped by 155 tonnes to 115489 tonnes.

In Delhi spot market, chana gained by 133.4 rupee to end at 4833.4 rupee per 100 kgs.