MUMBAI (Commodity Online): Chana futures continued to trade down at the NCDEX counter Thursday due to the persistent selling on heavy arrivals in the spot market.

NCDEX chana March contract edged down Rs two at Rs 2,105 a quintal. The contract so far fluctuated between Rs 2,108- 2,099 a quintal. April contract traded at Rs 2,182 a quintal, down Rs three. It so far moved between Rs 2,185- 2,178 a quintal. Volumes in the March and April contracts recorded at 850 and 10,330 tons respectively.

NCDEX May contract currently traded at Rs 2,257 a quintal, down Rs four and moved in the range of Rs 2,262- 2,254 a quintal. Total volume was 3,590 tons.

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Chana ended weak on sluggish demand, rising arrivals in physical market, ample carry forward stocks and higher output views.

Chana may remain under pressure on record Chana output and huge carry forward stocks till the end of April, which is the peak arrival season. In Delhi spot market, price slipped 7 rupees to 2,150 rupees per 100 kg.

Chana dropped Rs 20 and settled at Rs 2183 per quintal. The volume was noted at 110910 lots. Support for chana is at 2169 below that could see a test of 2154. Resistance is now seen at 2205 above that could see a resistance of 2226.

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