Chana gained Rs 34 and settled at Rs 2497 per quintal on demand from millers and stockists. Reports of fall in production last year and a rise in demand at lower levels is expected though traders are not ruling out intermittent profit booking at higher levels before demand rises in the mandis again. The total daily arrivals of chana were hovering at higher levels of around 1.50 lakh bags in all the major mandies. In Delhi spot market, chana fell down by -3.3 rupee to end at 2365.9 rupee per 100 kgs. The volume was noted at 173940 lots. Support for chana is at 2469 below that could see a test of 2441. Resistance is now seen at 2516 above that could see a resistance of 2535.

Trading Ideas:

Chana trading range is 2441-2535.

Chana gained on demand from millers and stockists

Chana is taking resistance at 2516 and support is seen at 2469.

NCDEX accredited warehouses chana stocks gained by 4994 tonnes to 92290 tonnes.

In Delhi spot market, chana fell down by -3.3 rupee to end at 2365.9 rupee per 100 kgs.