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.

Trading Ideas:

Chana trading range is 2155-2227.
Chana ended weak on sluggish demand and ample carry forward stocks
Chana is getting support at 2169 and resistance is at 2205 level
Yesterday we have seen that open interest fell by 70 and volume rose by 17830 lots.
SELL CHANA APR AT 2200-2210 SL 2234 TGT 2182-2160-2136.NCDEX
In the Delhi spot market price dropped 7 rupees to 2,183 rupees per

Courtesy: Kedia Commodities

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