Chana gained Rs 18 and settled at Rs 3423 per quintal due to buying at lower levels, supported by wedding season demand, though supplies from the new season crop and estimates of higher output kept the upside limited. Supplies from the new season crop are coming in from the states of Rajasthan, Maharashtra and Madhya Pradesh. Supplies at the local market have come down as the peak season is drawing to an end. There are some concerns over the yield and quality of the crop in Madhya Pradesh, the top chana producer in India, after unseasonal rainfall in February. Chana arrivals in Delhi slipped quite sharply, ensuring that some support emerges for the prices. The supplies in the city had dropped quite drastically in the last week, as farmers did not show an active enthusiasm in bringing their produce to the mandies. The wedding season also took a toll on the market activity. However, the overall supply condition remains good this year. The total output of Chana is likely to be 8.57 million tonnes in the current year. This marks a gain of 11.29% compared to the last year's production of 7.57 Million tonnes. Rabi Pulses output is likely to be 12.09 million tonnes, up 9.61% on the year. The supplies in Delhi totaled 20 trucks compared to 40 trucks. The good momentum in arrivals at the start of the week seems to be on the wane now. In Delhi spot market, chana jump up by 15.75 rupee to end at 3383.25 rupee per 100 kgs. The volume was noted at 64360 lots. Support for chana is at 3401 below that could see a test of 3380. Resistance is now seen at 3441 above that could see a resistance of 3460.

Trading Ideas:

Chana trading range for the day is 3380-3460.

Chana edged up due to buying at lower levels, supported by wedding season demand.

Supplies from the new season crop are coming in from the states of Rajasthan, Maharashtra and Madhya Pradesh.

NCDEX accredited warehouses chana stocks gained by 9504 tonnes to 86053 tonnes.

In Delhi spot market, chana jump up by 15.75 rupee to end at 3383.25 rupee per 100 kgs.