Chana settled at Rs 2416 per quintal as higher output estimates outweighed increased government intervention prices and domestic demand. Due to sufficient rainfall in the current season total production of chana is likely to increase compared to last year. According to government estimates, the production of chana is likely to be 7.35 million tonnes against 7.06 million tonnes last year. In Delhi spot market, chana jump up by 34.9 rupee to end at 2422.5 rupee per 100 kgs. The volume was noted at 122460 lots. Support for chana is at 2399 below that could see a test of 2381. Resistance is now seen at 2439 above that could see a resistance of 2461.

Trading Ideas:

Chana trading range is 2381-2461.

Chana settled flat as higher output estimates outweighed increased govt intervention prices

Chana is taking resistance at 2439 and support is seen at 2399.

NCDEX accredited warehouses chana stocks fell by 199 tonnes to 35080 tonnes.

In Delhi spot market, chana jump up by 34.9 rupee to end at 2422.5 rupee per 100 kgs.