Chana fell for a second straight day, tracking a drop in spot prices due to rising arrivals from the main growing region. Production estimate is on higher side. Arrivals are also rising in Madhya Pradesh. In the Delhi spot market, chana dropped 36 rupees to 2,260 rupees per 100 kg. Chana dropped Rs 19 and settled at Rs 2289 per quintal. The volume was noted at 71250 lots. Support for chana is at 2277 below that could see a test of 2264. Resistance is now seen at 2307 above that could see a resistance of 2324.

Trading Ideas:

Chana trading range is 2264-2324.

Chana fell for a second straight day tracking a drop in spot prices

Support for the chana is seen at 2277 and resistance is at 2307.

NCDEX accredited warehouses chana stocks rose by 1130 tonnes to 26143 tonnes.

In the Delhi spot market prices fell 36 rupees to end 2,260 rupees per 100 kg

SELL CHANA APR ON JUMP @ 2310 SL 2332 TGT 2280-2256.NCDEX