Chana dropped Rs 14 and settled at Rs 2583 per quintal due to rising arrivals in the physical market. However the downside in chana was limited as prices were supported by local demand from millers. Arrivals of the winter-sown crop start in February and will peak in March. The total arrivals of chana were around 20 motors reported today, down 5 motors from the last day. In Delhi spot market, chana jump up by 8.45 rupee to end at 2625 rupee per 100 kgs. The volume was noted at 83750 lots. Support for chana is at 2566 below that could see a test of 2548. Resistance is now seen at 2610 above that could see a resistance of 2636.

Trading Ideas:

Chana trading range is 2549-2637.

Chana dropped due to rising arrivals in the physical market

Chana is taking resistance at 2610 and support is seen at 2560

NCDEX accredited warehouses chana stocks fell by 203 tonnes 22379 tonnes.

In Delhi spot market, chana jump up by 8.45 rupee to end at 2625 rupee per 100 kgs.