Chana fell on mounting arrivals in the physical market and expectations of higher output, offsetting recovery in other pulses. Arrivals in the Delhi spot market have risen to 70-80 motors against 40-45 motors last week. Supply from Madhya Pradesh is on peak. Arrivals from Rajasthan are also improving gradually. In the Delhi spot market, chana dropped 22 rupees to 2,296 rupees per 100 kg. Chana dropped Rs 33 and settled at Rs 2309 per quintal. The volume was noted at 85220 lots. Support for chana is at 2290 below that could see a test of 2270. Resistance is now seen at 2336 above that could see a resistance of 2362.

Trading Ideas:

Chana trading range is 2270-2362.

Chana fell on mounting arrivals in the physical market and expectations of higher output

Support for the chana is seen at 2290 and resistance is at 2336.

NCDEX accredited warehouses chana stocks fell by 37 tonnes to 25013 tonnes.

In the Delhi spot market prices fell 22 rupees to end 2,296 rupees per 100 kg

BUY CHANA APR @ 2260-2275 SL 2248 TGT 2298-2315-2334.NCDEX