MUMBAI (Commodity Online): Chana futures are trading with minor gains at the NCDEX counter on Wednesday due to short covering at lower levels. However, the fundamentals remained sluggish due to higher supply in the spot market.

NCDEX chana February contract quoted at Rs 2,234 a quintal, up Rs 3. The contract so far fluctuated between Rs 2,235- 2,224 a quintal. March contract traded at Rs 2,308 a quintal, up Rs five.

It so far moved between Rs 2,311- 2,297 a quintal. Volumes in the February and March contracts recorded at 2,790 and 9,610 tons respectively.

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Chana ended lower weighed by rising arrivals, ample carry forward stocks and hopes of higher output due to expanded acreage. In the Delhi spot market, price inched down 1 rupee to 2,270 rupees per 100 kg.

Chana dropped Rs 19 and settled at Rs 2299 per quintal. The volume was noted at 55770 lots. Support for Chana is at 2289 below that could see a test of 2279. Resistance is now seen at 2317 above that could see a resistance of 2335.

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