MUMBAI (Commodity Online): Chana futures pared some of its early gain on Thursday following the profit selling driven by higher supplies in the spot market.

NCDEX September Chana contract have wilted almost Rs 20 per quintal, trading at Rs 2215 per quintal

As per market sources, the total daily arrivals of chana at Delhi mandi have augmented from 35 motors to 50 motors on the account of fresh supplies of Moong and Urad in major mandies.

Chana settled steady at Rs 2232 per quintal on some value buying but mounting stocks and hopes of good sowing of Chana in the upcoming season due to sufficient moisture in the soil weighed. Demand in physical market has come down.

Fresh arrivals of Moong have gradually started picking up in the spot markets of Karnataka, Andhra Pradesh, Maharashtra and Madhya Pradesh.

In Delhi spot market, chana fell down by -8 rupee to end at 2269.5 rupee per 100 kgs. The volume was noted at 93650 lots. Support for chana is at 2220 below that could see a test of 2209. Resistance is now seen at 2249 above that could see a resistance of 2267.

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