Chana futures plunged2-2.5% during yesterday's trading sessionas the counter saw some selling pressure during yesterday's trading seesion in the Spot market. Guar complex went down as the complex saw some profit taking.

Chana arrivals are 10000-12000bagsat Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2300/quintal down Rs. 50/quintal from yestearday's closing Spot price, as we expect good selling pressure coming during the day.

The spread between Chana Spot price (Delhi) and Yellow Pea Spot price (Kanpur) have marginally reduced by Rs. 20-25/quintal mainly due drop in Delhi Spot price of Chana, as Chana Spot market saw some selling pressure coming during the day.

Demand for chana dal is expected to remain firm and positive as consumption of besan is as its peak during the on going and forthcomingfestive and marriage season.

Indian Government is enforcing and giving some technical aspects to states to increase yield in the coming production level of Wheatwhich may lead to increase the total production to 84 MT more than expected.

Guarseed it seems there is a tug of war between bulls and bears as bears are in view that slack guar gum exports will weigh on prices and bulls are in view that this year crop would be between 25-30 lakh bags which is too low as compared to last years crop.

Chana is expected to trade sideways to down, but we still recommend buyingat dips as fundamentals are still favouring the bulls, andfor Guar complex we recommend to buy at dips backed by strong fundamentals. Wheat prices are expected to remain firm and we recommend buyingat dpis for this counter.