Chana gained Rs 32 and settled at Rs 2558 per quintal on expectations of rise in demand at the spot market.  Tight supplies from producing regions further supported the uptrend in chana prices. Total acreage in 2010/11 is likely to rise by 15-20 percent due to abundant soil moisture and higher government support price, which is encouraging farmers to increase area under cultivation. In Indore spot market in Madhya Pradesh, chana edged up 2 rupees to 2,344 rupees per 100 kg. The arrivals of chana slid to 35 trucks in Delhi. In Delhi spot market, chana jump up by 9.75 rupee to end at 2450 rupee per 100 kgs. The volume was noted at 71930 lots. Support for chana is at 2533 below that could see a test of 2509. Resistance is now seen at 2571 above that could see a resistance of 2585.

Trading Ideas:

Chana trading range is 2507-2583.

Chana settled higher on expectations of rise in demand at the spot market

Chana is taking resistance at 2571 and support is seen at 2533.

NCDEX accredited warehouses chana stocks fell 3 tonnes to 16041 tonnes.

In Delhi spot market, chana jump up by 9.75 rupee to end at 2450 rupee per 100 kgs.