Chana erased early gains to end lower as rising arrivals and estimates of higher production outweighed a slight improvement in the spot demand. This year, production would be higher due to a rise in area.  In the Delhi spot market, price rose by 10 rupees to 2,275 rupees per 100 kg on improvement in demand. Chana dropped Rs 12 and settled at Rs 2214 per quintal. The volume was noted at 60360 lots. Support for chana is at 2194 below that could see a test of 2174. Resistance is now seen at 2240 above that could see a resistance of 2266.

Trading Ideas:

Chana trading range is 2170-2150.

Chana ended lower as rising arrivals outweighed improvement in spot demand

Resistance for the chana is at 2228 and support is at 2194 level.

In the Delhi spot market price rose by 10 rupees to 2275 rupees per 100 kg

Yesterday we have seen that open interest has fell by 950 lots and volume rose by 3010.

SELL CHANA FEB @ 2230 SL 2268 TGT 2212-2190-2176.NCDEX (LOW QTY)