Chana dropped Rs 5 and settled at Rs 2306 per quintal as arrival pressures offset lower level demand. Chana is seeing arrival pressure and going forward it may witness some selling pressure also. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago. In Delhi spot market, chana jump up by 12.8 rupee to end at 2225 rupee per 100 kgs. The volume was noted at 81370 lots. Support for chana is at 2294 below that could see a test of 2282. Resistance is now seen at 2324 above that could see a resistance of 2342.

Trading Ideas:

Chana trading range is 2282-2342.

Chana dropped as arrival pressures offset lower level demand

Chana is taking resistance at 2324 and support is seen at 2294.

NCDEX accredited warehouses chana stocks gained by 1500 tonnes to 50970 tonnes.

In Delhi spot market, chana jump up by 12.8 rupee to end at 2225 rupee per 100 kgs.