Chana dropped Rs 188 and settled at Rs 4523 per quintal due to strong arrivals in major mandies along with fresh supplies of other kharif pulses in major mandies. Chana prices also daunted by bearish trend in other pulses such as Urad and Moong. The spot prices of both Urad and Moong wilted almost Rs 100 per quintal in Maharashtra mandies due to strong supplies of new Kharif crop in Maharashtra mandies. The total daily arrivals were hovering at the levels of around 40000 bags in the entire major mandies, unchanged from the last day. Chana prices might also discourage by bearish trend in other pulses such as Urad and Moong. The spot prices of both Urad and Moong wilted almost Rs 100 per quintal in the last trading in the wake of strong supplies of new Kharif crop in Maharashtra mandies. India's monsoon rains were 31 percent above average in the week to Sept. 5. Monsoon has recovered across India that may prove beneficial for the Chana sowing, the overall fundamentals still remain supportive for the prices on account of supply tightness amid festive season demand. Assocham estimates, 21 mn tn of pulses demand in 2012-13 and is likely to reach at 21.42 mn tn in 2013-14 and 21.91 MT in 2014-15. In Delhi spot market, chana fell down by -115.65 rupee to end at 4625 rupee per 100 kgs. The volume was noted at 124780 lots. Support for chana is at 4462 below that could see a test of 4400. Resistance is now seen at 4646 above that could see a resistance of 4768.

Trading Ideas:

Chana  trading range for the day is 4400-4768.

Chana ended lower due to strong arrivals in major mandies along with fresh supplies of other kharif pulses

Chana prices also daunted by bearish trend in other pulses such as Urad and Moong.

NCDEX accredited warehouses chana stocks dropped by 22 tonnes to 50727 tonnes.

In Delhi spot market, chana fell down by -115.65 rupee to end at 4625 rupee per 100 kgs.