Chana gained Rs 10 and settled at Rs 2563 per quintal due to bargain buying supported by festival season buying by local millers. Arrivals of the winter-sown crop starts in February and will peak in March. Production of chana, or chickpea, is likely to fall to 7.37 million tonnes from 7.48 million tonnes a year ago. Import of pulses during April to October 2010 stood at 1.61 million tonnes as compared to 3.51 million tonnes in the same period in 2009. In Delhi spot market, chana jump up by 25 rupee to end at 2550 rupee per 100 kgs. The volume was noted at 72810 lots. Support for chana is at 2546 below that could see a test of 2529. Resistance is now seen at 2579 above that could see a resistance of 2595.

Trading Ideas:

Chana trading range is 2529-2595.

Chana gained due to bargain buying supported by festival season buying

Chana is taking resistance at 2579 and support is seen at 2546.

NCDEX accredited warehouses chana stocks remained at 20926 tonnes.

In Delhi spot market, chana jump up by 25 rupee to end at 2550 rupee per 100 kgs.